Raymond James (NYSE:RJF) Stake Boosted by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 910,518 shares of the financial services provider's stock after acquiring an additional 16,739 shares during the quarter. Sei Investments Co. owned approximately 0.45% of Raymond James worth $141,431,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC grew its position in shares of Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd raised its stake in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after buying an additional 127 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after buying an additional 217 shares in the last quarter. Quarry LP increased its position in Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after buying an additional 187 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Raymond James in the fourth quarter worth approximately $68,000. Institutional investors own 83.83% of the company's stock.

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Raymond James Stock Down 0.9 %

Shares of NYSE:RJF traded down $1.25 during mid-day trading on Wednesday, hitting $144.46. 1,314,488 shares of the company traded hands, compared to its average volume of 1,172,994. The firm's 50 day simple moving average is $156.01 and its 200 day simple moving average is $150.08. Raymond James has a 52-week low of $104.24 and a 52-week 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 firm has a market cap of $29.60 billion, a P/E ratio of 14.09, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results 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 return on equity of 19.71% and a net margin of 14.06%. On average, equities analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

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 paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.38%. Raymond James's dividend payout ratio (DPR) is presently 19.51%.

Wall Street Analyst Weigh In

RJF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Morgan Stanley upped their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Wells Fargo & Company lifted their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. Finally, Citigroup increased their price target 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 equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $167.55.

About Raymond James

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.