Nemes Rush Group LLC lifted its position in Raymond James (NYSE:RJF - Free Report) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 67,487 shares of the financial services provider's stock after purchasing an additional 2,839 shares during the period. Raymond James comprises approximately 1.3% of Nemes Rush Group LLC's portfolio, making the stock its 27th biggest holding. Nemes Rush Group LLC's holdings in Raymond James were worth $10,483,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC grew its holdings in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after purchasing an additional 127 shares during the period. Plato Investment Management Ltd boosted its holdings in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after purchasing an additional 217 shares during the period. Quarry LP grew its stake in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider's stock worth $51,000 after purchasing an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new position in Raymond James during the 4th quarter valued at about $68,000. 83.83% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
RJF has been the subject of several research analyst reports. The Goldman Sachs Group dropped their price objective on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley raised their price target on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. UBS Group raised shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Bank of America raised their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $164.64.
View Our Latest Stock Analysis on Raymond James
Raymond James Stock Down 8.3 %
NYSE:RJF traded down $11.71 during mid-day trading on Thursday, hitting $130.18. 2,127,779 shares of the company's stock were exchanged, compared to its average volume of 1,246,334. The company has a market cap of $26.68 billion, a PE ratio of 12.70, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a one year low of $104.24 and a one year high of $174.32. The business has a fifty day moving average price of $153.24 and a 200 day moving average price of $150.90.
Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities analysts predict that Raymond James will post 11.17 EPS for the current year.
Raymond James Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.54%. Raymond James's payout ratio is presently 19.51%.
Raymond James Profile
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Free Report)
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.
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