T. Rowe Price Investment Management Inc. Sells 23,369 Shares of Raymond James (NYSE:RJF)

T. Rowe Price Investment Management Inc. lowered its stake in Raymond James (NYSE:RJF - Free Report) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,107,327 shares of the financial services provider's stock after selling 23,369 shares during the period. T. Rowe Price Investment Management Inc. owned 2.01% of Raymond James worth $637,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assetmark Inc. grew its position in Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock worth $70,000 after acquiring an additional 138 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Raymond James during the fourth quarter worth about $105,701,000. Franklin Resources Inc. increased its stake in shares of Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider's stock valued at $73,940,000 after buying an additional 9,217 shares during the period. J.W. Cole Advisors Inc. bought a new position in Raymond James in the 4th quarter valued at approximately $511,000. Finally, Proficio Capital Partners LLC acquired a new stake in Raymond James during the 4th quarter worth approximately $21,334,000. Institutional investors own 83.83% of the company's stock.

Raymond James Stock Up 3.0 %

Raymond James stock opened at $134.77 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $27.62 billion, a PE ratio of 13.15, a PEG ratio of 0.90 and a beta of 0.94. The firm's fifty day moving average is $141.83 and its 200 day moving average is $151.62. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

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 (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%. As a group, sell-side analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. Raymond James's dividend payout ratio is 19.51%.

Analyst Upgrades and Downgrades

RJF has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. The Goldman Sachs Group reduced their price target on Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. UBS Group upgraded Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Citigroup reduced their target price on Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, StockNews.com lowered shares of Raymond James from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $160.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.