Proficio Capital Partners LLC purchased a new position in shares of Raymond James (NYSE:RJF - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 137,344 shares of the financial services provider's stock, valued at approximately $21,334,000. Proficio Capital Partners LLC owned 0.07% of Raymond James as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock worth $70,000 after acquiring an additional 138 shares during the period. Keybank National Association OH increased its stake in shares of Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider's stock worth $1,747,000 after acquiring an additional 76 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Raymond James by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider's stock worth $167,472,000 after acquiring an additional 13,817 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Raymond James by 31.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,579 shares of the financial services provider's stock worth $2,109,000 after acquiring an additional 3,281 shares during the period. Finally, Plato Investment Management Ltd grew its position in 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 buying an additional 217 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.
Raymond James Trading Down 0.7 %
Shares of RJF traded down $0.97 on Tuesday, hitting $143.50. 1,449,879 shares of the stock traded hands, compared to its average volume of 1,152,942. 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 market capitalization of $29.40 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.90 and a beta of 1.04. The stock's 50 day moving average is $157.94 and its two-hundred day moving average is $149.04. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32.
Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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 predict that Raymond James will post 11.17 earnings per share for the current year.
Raymond James Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, April 1st. Raymond James's payout ratio is 19.51%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Citigroup upped their target price 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. StockNews.com lowered shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. 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 report on Tuesday, March 4th. JMP Securities upped their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a "market outperform" rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group upgraded shares of Raymond James from a "neutral" rating to a "buy" rating and upped their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Nine 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 MarketBeat, Raymond James currently has an average rating of "Hold" and a consensus price target of $167.55.
Check Out Our Latest Report on RJF
Raymond James Company Profile
(
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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