Wealthfront Advisers LLC grew its position in Raymond James (NYSE:RJF - Free Report) by 158.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,178 shares of the financial services provider's stock after acquiring an additional 11,751 shares during the quarter. Wealthfront Advisers LLC's holdings in Raymond James were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider's stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $105,701,000. JPMorgan Chase & Co. lifted its holdings in shares of Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock worth $556,533,000 after purchasing an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Raymond James by 433.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock valued at $88,144,000 after purchasing an additional 461,069 shares during the period. Finally, Two Sigma Advisers LP bought a new position in Raymond James during the 3rd quarter worth $34,105,000. 83.83% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on RJF shares. Bank of America boosted their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a report on Thursday, January 30th. StockNews.com cut shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Wells Fargo & Company lifted their price target on Raymond James from $168.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Finally, Citigroup lifted 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 research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $167.55.
Get Our Latest Stock Analysis on Raymond James
Raymond James Price Performance
NYSE:RJF traded up $2.15 during mid-day trading on Monday, reaching $144.54. 1,609,635 shares of the stock were exchanged, compared to its average volume of 1,151,856. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $29.62 billion, a PE ratio of 14.10, a PEG ratio of 0.90 and a beta of 1.04. The business has a fifty day moving average price of $158.23 and a 200 day moving average price of $148.86.
Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.
Raymond James Announces Dividend
The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Tuesday, April 1st. Raymond James's dividend payout ratio (DPR) is presently 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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