Resona Asset Management Co. Ltd. Acquires New Position in Raymond James (NYSE:RJF)

Resona Asset Management Co. Ltd. acquired a new position in Raymond James (NYSE:RJF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 59,735 shares of the financial services provider's stock, valued at approximately $9,292,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $294,647,000. Raymond James Financial Inc. acquired a new stake in Raymond James in the fourth quarter worth $105,701,000. JPMorgan Chase & Co. lifted its stake in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock valued at $556,533,000 after buying an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Raymond James by 433.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock valued at $88,144,000 after acquiring an additional 461,069 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Raymond James by 554.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 290,389 shares of the financial services provider's stock worth $45,106,000 after acquiring an additional 246,009 shares during the last quarter. Institutional investors own 83.83% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on RJF shares. Citigroup cut their price objective 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. The Goldman Sachs Group reduced their price objective on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company lowered their target price on Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Bank of America increased their price target on Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods raised their price target 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 analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $160.27.

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Raymond James Price Performance

NYSE:RJF traded up $3.04 during mid-day trading on Friday, reaching $135.27. 2,090,230 shares of the stock were exchanged, compared to its average volume of 1,291,966. 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 business has a fifty day moving average price of $146.07 and a 200 day moving average price of $151.33. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The firm has a market capitalization of $27.72 billion, a PE ratio of 13.20, a PEG ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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%. Research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James's dividend payout ratio (DPR) is currently 19.51%.

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.