Tower Research Capital LLC TRC Cuts Stake in Raymond James (NYSE:RJF)

Tower Research Capital LLC TRC trimmed its position in shares of Raymond James (NYSE:RJF - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,536 shares of the financial services provider's stock after selling 2,216 shares during the period. Tower Research Capital LLC TRC's holdings in Raymond James were worth $1,792,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RJF. Barclays PLC boosted its stake in Raymond James by 33.5% in the third quarter. Barclays PLC now owns 847,108 shares of the financial services provider's stock valued at $103,738,000 after acquiring an additional 212,697 shares during the period. Virtu Financial LLC bought a new position in Raymond James during the 3rd quarter valued at $308,000. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Raymond James by 18.7% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,788 shares of the financial services provider's stock worth $341,000 after acquiring an additional 439 shares in the last quarter. World Investment Advisors LLC raised its holdings in shares of Raymond James by 7.3% during the third quarter. World Investment Advisors LLC now owns 28,290 shares of the financial services provider's stock valued at $3,464,000 after acquiring an additional 1,924 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in Raymond James by 1.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 67,439 shares of the financial services provider's stock worth $8,259,000 after acquiring an additional 1,026 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on RJF. UBS Group raised shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. 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 research note on Tuesday, March 4th. Citigroup lowered their target price on Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $175.00 price target on shares of Raymond James in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $157.64.

Raymond James Stock Up 0.2 %

Raymond James stock traded up $0.24 on Friday, hitting $137.50. 1,139,466 shares of the stock traded hands, compared to its average volume of 1,295,582. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. 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's fifty day simple moving average is $140.43 and its 200 day simple moving average is $151.68. The firm has a market cap of $28.18 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. During the same quarter in the previous year, the firm earned $2.31 earnings per share. As a group, sell-side analysts forecast 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. Shareholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.45%. Raymond James's dividend payout ratio (DPR) is presently 19.25%.

Raymond James Company 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.