Primecap Management Co. CA cut its holdings in Raymond James (NYSE:RJF - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,469,156 shares of the financial services provider's stock after selling 507,256 shares during the quarter. Raymond James comprises 1.4% of Primecap Management Co. CA's holdings, making the stock its 21st biggest position. Primecap Management Co. CA owned approximately 5.61% of Raymond James worth $1,781,504,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. TCTC Holdings LLC boosted its holdings in shares of Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after buying an additional 106 shares during the period. Y.D. More Investments Ltd boosted its stake in Raymond James by 121.0% in the 4th 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 raised its stake in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 217 shares during the period. Quarry LP raised its stake in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 187 shares during the period. Finally, Eastern Bank bought a new stake in shares of Raymond James in the fourth quarter valued at about $68,000. 83.83% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. JMP Securities increased their price objective on Raymond James from $175.00 to $190.00 and gave the stock a "market outperform" rating in a report on Thursday, January 30th. Citigroup lifted their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, January 10th. JPMorgan Chase & Co. raised their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. The Goldman Sachs Group upgraded shares of Raymond James from a "neutral" rating to a "buy" rating and lifted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, Bank of America increased their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $167.55.
Get Our Latest Stock Report on RJF
Raymond James Stock Performance
Shares of RJF stock traded down $0.38 during trading on Friday, reaching $141.35. 5,311,240 shares of the company's stock were exchanged, compared to its average volume of 1,174,570. The firm's fifty day moving average price is $157.02 and its 200-day moving average price is $149.14. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a market capitalization of $28.96 billion, a PE ratio of 13.79, a PEG ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.
Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Raymond James will post 11.17 EPS for the current year.
Raymond James Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James's payout ratio is 19.51%.
About Raymond James
(
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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