Royal London Asset Management Ltd. Has $19.89 Million Position in Raymond James (NYSE:RJF)

Royal London Asset Management Ltd. reduced its position in shares of Raymond James (NYSE:RJF) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 128,073 shares of the financial services provider’s stock after selling 1,253 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Raymond James were worth $19,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RJF. Empowered Funds LLC boosted its position in shares of Raymond James by 7.9% during the third quarter. Empowered Funds LLC now owns 3,466 shares of the financial services provider’s stock worth $423,000 after buying an additional 255 shares during the period. Caprock Group LLC boosted its position in Raymond James by 2.2% during the third quarter. Caprock Group LLC now owns 6,023 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 131 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Raymond James during the third quarter valued at approximately $390,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Raymond James during the third quarter valued at approximately $1,587,000. Finally, PNC Financial Services Group Inc. boosted its position in Raymond James by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 106,391 shares of the financial services provider’s stock valued at $13,029,000 after purchasing an additional 3,150 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Price Performance

Shares of NYSE RJF opened at $141.35 on Friday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The business’s 50 day moving average is $156.76 and its 200-day moving average is $149.29. 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 firm has a market cap of $28.96 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.41%. Raymond James’s payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RJF. Bank of America increased their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their price target on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Morgan Stanley raised their price objective on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Nine research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $167.55.

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.