Russell Investments Group Ltd. trimmed its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,428 shares of the financial services provider's stock after selling 41,992 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Raymond James worth $23,211,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Raymond James in the 4th quarter valued at approximately $961,000. Aviva PLC boosted its stake in shares of Raymond James by 44.2% during the 4th quarter. Aviva PLC now owns 175,126 shares of the financial services provider's stock worth $27,202,000 after purchasing an additional 53,670 shares during the period. Mizuho Bank Ltd. bought a new position in Raymond James during the 4th quarter valued at about $53,000. Cullen Capital Management LLC lifted its stake in Raymond James by 19.1% in the fourth quarter. Cullen Capital Management LLC now owns 12,047 shares of the financial services provider's stock worth $1,871,000 after purchasing an additional 1,936 shares during the last quarter. Finally, Oarsman Capital Inc. raised its holdings in shares of Raymond James by 3.1% in the fourth quarter. Oarsman Capital Inc. now owns 10,654 shares of the financial services provider's stock worth $1,655,000 after buying an additional 323 shares during the period. Institutional investors own 83.83% of the company's stock.
Raymond James Stock Up 1.1 %
RJF stock traded up $1.47 during trading on Monday, reaching $136.80. 170,297 shares of the company traded hands, compared to its average volume of 1,545,261. The business has a 50 day simple moving average of $146.07 and a 200 day simple moving average of $151.33. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market capitalization of $28.03 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.
Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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%. On average, equities research analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.
Raymond James Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.46%. Raymond James's dividend payout ratio is presently 19.51%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. JMP Securities cut their price objective on Raymond James from $190.00 to $175.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered their price objective on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Citigroup reduced their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley boosted their price target on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. raised 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. Nine 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $160.27.
View Our Latest Stock Report on Raymond James
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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