Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Raymond James (NYSE:RJF - Free Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,326 shares of the financial services provider's stock after purchasing an additional 2,424 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Raymond James were worth $10,147,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd grew its stake in Raymond James by 121.0% during 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 during the last quarter. Plato Investment Management Ltd grew its position in 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 worth $37,000 after acquiring an additional 217 shares during the last quarter. Gladius Capital Management LP acquired a new stake in Raymond James during the 3rd quarter valued at $34,000. Peterson Financial Group Inc. bought a new position in Raymond James in the 3rd quarter valued at $37,000. Finally, Quarry LP raised its position in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 187 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.
Raymond James Trading Up 1.5 %
Shares of RJF stock traded up $2.15 during trading hours on Monday, reaching $144.54. The company had a trading volume of 1,609,635 shares, compared to its average volume of 1,151,856. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a market cap of $29.62 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a 50 day moving average of $158.23 and a 200 day moving average of $148.86.
Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results 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 net margin of 14.06% and a return on equity of 19.71%. On average, equities research analysts anticipate that Raymond James will post 11.17 EPS for the current year.
Raymond James Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.38%. Raymond James's dividend payout ratio (DPR) is currently 19.51%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on RJF shares. The Goldman Sachs Group upgraded Raymond James from a "neutral" rating to a "buy" rating and raised their target price for the company from $161.00 to $185.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their price objective 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. Wells Fargo & Company boosted their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. JMP Securities raised their price target on shares of Raymond James from $175.00 to $190.00 and gave the company a "market outperform" rating in a report on Thursday, January 30th. Finally, Bank of America boosted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Nine 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $167.55.
Get Our Latest Analysis on RJF
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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