Raymond James (NYSE:RJF) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its holdings in Raymond James (NYSE:RJF - Free Report) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,958 shares of the financial services provider's stock after acquiring an additional 3,595 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Raymond James were worth $7,098,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider's stock valued at $57,941,000 after purchasing an additional 7,028 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Raymond James by 390.7% during the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider's stock valued at $1,032,000 after buying an additional 6,649 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Raymond James in the 3rd quarter valued at $3,561,000. Wealth Enhancement Advisory Services LLC increased its holdings in Raymond James by 105.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider's stock worth $3,834,000 after acquiring an additional 15,940 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Raymond James by 109.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider's stock worth $13,778,000 after acquiring an additional 58,200 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company restated an "equal weight" rating and set a $169.00 price target (up previously from $152.00) on shares of Raymond James in a research report on Thursday. TD Cowen increased their target price on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Bank of America boosted their price target on Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Morgan Stanley increased their price objective on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group lifted their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Raymond James currently has an average rating of "Hold" and an average target price of $142.45.

Raymond James Trading Up 0.1 %

Shares of RJF stock traded up $0.12 during trading hours on Friday, hitting $160.49. The company had a trading volume of 1,593,127 shares, compared to its average volume of 1,139,865. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company's fifty day moving average is $151.78 and its 200 day moving average is $129.78. The stock has a market capitalization of $32.75 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The company's revenue was up 13.4% on a year-over-year basis. Research analysts expect that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Raymond James's previous quarterly dividend of $0.45. Raymond James's dividend payout ratio (DPR) is currently 20.60%.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,621 shares of company stock worth $9,134,788 over the last 90 days. Corporate insiders own 9.74% of the company's stock.

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.