Raymond James (NYSE:RJF) is AGF Management Ltd.'s 8th Largest Position

AGF Management Ltd. reduced its stake in shares of Raymond James (NYSE:RJF - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,379,290 shares of the financial services provider's stock after selling 231,873 shares during the period. Raymond James accounts for about 1.9% of AGF Management Ltd.'s portfolio, making the stock its 8th largest holding. AGF Management Ltd. owned approximately 1.16% of Raymond James worth $369,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP acquired a new position in shares of Raymond James in the third quarter valued at approximately $34,000. Y.D. More Investments Ltd boosted its stake in shares of Raymond James by 121.0% during 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 last quarter. Peterson Financial Group Inc. acquired a new position in Raymond James in the third quarter valued at $37,000. Plato Investment Management Ltd raised its stake 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 purchasing an additional 217 shares during the period. Finally, Quarry LP grew its position in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 187 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Price Performance

RJF stock opened at $137.53 on Tuesday. The company has a fifty day moving average price of $159.44 and a 200-day moving average price of $148.21. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a market capitalization of $28.18 billion, a P/E ratio of 13.42, a PEG ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

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Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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%. As a group, equities analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James's payout ratio is currently 19.51%.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RJF. StockNews.com lowered Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. UBS Group raised Raymond James from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. The Goldman Sachs Group raised Raymond James from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their price target 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. Finally, Citigroup boosted their target price on Raymond James from $145.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $167.55.

Raymond James 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.

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