Los Angeles Capital Management LLC Has $5.44 Million Stock Holdings in Raymond James (NYSE:RJF)

Los Angeles Capital Management LLC boosted its position in Raymond James (NYSE:RJF - Free Report) by 86.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,380 shares of the financial services provider's stock after buying an additional 20,533 shares during the period. Los Angeles Capital Management LLC's holdings in Raymond James were worth $5,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AGF Management Ltd. increased its stake in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider's stock valued at $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Raymond James by 1.5% in the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider's stock worth $309,689,000 after buying an additional 37,173 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Raymond James by 1.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider's stock worth $273,919,000 after purchasing an additional 25,494 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Raymond James by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider's stock valued at $250,238,000 after acquiring an additional 113,826 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Raymond James by 2.1% in the second quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider's stock worth $216,153,000 after purchasing an additional 38,695 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Price Performance

Shares of RJF traded down $0.83 during trading hours on Tuesday, reaching $161.88. The company had a trading volume of 274,011 shares, compared to its average volume of 1,141,380. The firm has a 50 day simple moving average of $131.78 and a 200-day simple moving average of $123.45. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $33.34 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.80 and a beta of 0.99. Raymond James has a 12-month low of $99.06 and a 12-month high of $163.39.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $2.13 earnings per share. Research analysts expect that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.11%. Raymond James's dividend payout ratio is 18.54%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Raymond James from $140.00 to $152.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Bank of America lifted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Morgan Stanley boosted their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. TD Cowen boosted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price target on Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $140.91.

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.