Nicholas Company Inc. trimmed its position in shares of Raymond James (NYSE:RJF - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 168,485 shares of the financial services provider's stock after selling 11,102 shares during the quarter. Nicholas Company Inc. owned about 0.08% of Raymond James worth $26,171,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Eldridge Investment Advisors Inc. purchased a new position in shares of Raymond James in the fourth quarter worth $243,000. Corient Private Wealth LLC grew its stake in Raymond James by 3.2% in the 4th quarter. Corient Private Wealth LLC now owns 21,282 shares of the financial services provider's stock valued at $3,305,000 after acquiring an additional 658 shares during the period. one8zero8 LLC purchased a new position in Raymond James in the 4th quarter valued at about $565,000. Natixis Advisors LLC boosted its stake in shares of Raymond James by 5.7% in the fourth quarter. Natixis Advisors LLC now owns 252,643 shares of the financial services provider's stock worth $39,242,000 after acquiring an additional 13,512 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd grew its holdings in shares of Raymond James by 500.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 2,400 shares of the financial services provider's stock worth $373,000 after buying an additional 2,000 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.
Raymond James Stock Performance
Shares of RJF traded down $4.78 during midday trading on Thursday, reaching $141.64. 1,750,747 shares of the stock were exchanged, compared to its average volume of 1,156,818. The company has a market capitalization of $29.02 billion, a price-to-earnings ratio of 13.82, a PEG 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 twelve month low of $104.24 and a twelve month high of $174.32. The business's 50-day moving average price is $157.37 and its 200 day moving average price is $149.19.
Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS 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%. On average, sell-side analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.
Raymond James Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James's payout ratio is currently 19.51%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on RJF. Citigroup increased their price target on Raymond James from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a "neutral" rating to a "buy" rating and increased their price target for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $167.55.
Read Our Latest Research Report on RJF
About Raymond James
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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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