Renaissance Technologies LLC raised its position in shares of Raymond James (NYSE:RJF - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 262,037 shares of the financial services provider's stock after purchasing an additional 69,000 shares during the period. Renaissance Technologies LLC owned about 0.13% of Raymond James worth $40,702,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in RJF. Bank of Nova Scotia raised its position in shares of Raymond James by 2.4% in the 4th quarter. Bank of Nova Scotia now owns 24,862 shares of the financial services provider's stock valued at $3,862,000 after purchasing an additional 588 shares during the last quarter. FIL Ltd increased its position in shares of Raymond James by 25.9% in the fourth quarter. FIL Ltd now owns 199,300 shares of the financial services provider's stock valued at $30,957,000 after buying an additional 41,016 shares in the last quarter. Invesco Ltd. increased its stake in shares of Raymond James by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock worth $378,276,000 after purchasing an additional 192,904 shares in the last quarter. Cerity Partners LLC increased its stake in Raymond James by 10.1% during the 4th quarter. Cerity Partners LLC now owns 19,299 shares of the financial services provider's stock worth $2,822,000 after buying an additional 1,765 shares in the last quarter. Finally, FMR LLC lifted its holdings in Raymond James by 2.2% in the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock valued at $1,013,066,000 after purchasing an additional 137,277 shares in the last quarter. Institutional investors own 83.83% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on RJF. The Goldman Sachs Group dropped their price objective on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. JMP Securities reduced their price objective on shares of Raymond James from $190.00 to $175.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley raised their price objective on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Raymond James has a consensus rating of "Hold" and a consensus price target of $160.27.
Check Out Our Latest Research Report on RJF
Raymond James Trading Down 1.3 %
Shares of Raymond James stock traded down $1.79 during midday trading on Wednesday, reaching $134.42. The company had a trading volume of 235,392 shares, compared to its average volume of 1,287,151. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The stock has a fifty day moving average price of $144.81 and a 200 day moving average price of $151.31. The firm has a market cap of $27.54 billion, a PE ratio of 13.11, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.
Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating 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 analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.
Raymond James Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.50 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. Raymond James's dividend payout ratio is currently 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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