Millstone Evans Group LLC Makes New Investment in Raymond James (NYSE:RJF)

Millstone Evans Group LLC purchased a new position in shares of Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,861 shares of the financial services provider's stock, valued at approximately $3,085,000. Raymond James accounts for about 2.1% of Millstone Evans Group LLC's investment portfolio, making the stock its 7th largest holding.

A number of other institutional investors have also modified their holdings of the stock. Assetmark Inc. raised its stake in shares of Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock worth $70,000 after buying an additional 138 shares during the period. Raymond James Financial Inc. acquired a new position in Raymond James during the fourth quarter worth $105,701,000. Franklin Resources Inc. raised its position in Raymond James by 1.6% during the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider's stock worth $73,940,000 after acquiring an additional 9,217 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Raymond James during the fourth quarter valued at $511,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Raymond James in the fourth quarter valued at about $21,334,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RJF shares. Citigroup upped their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. UBS Group raised Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Bank of America raised their target price on Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley boosted their price target on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their price objective on Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $167.55.

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Raymond James Trading Up 0.5 %

Shares of RJF traded up $0.77 during midday trading on Tuesday, reaching $145.73. The company had a trading volume of 988,478 shares, compared to its average volume of 1,171,401. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $156.35 and a 200-day simple moving average of $150.12. The stock has a market cap of $29.86 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Research analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James's dividend payout ratio (DPR) is 19.51%.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.