Vanguard Group Inc. Sells 35,893 Shares of Raymond James (NYSE:RJF)

Vanguard Group Inc. cut its holdings in Raymond James (NYSE:RJF) by 0.2% during the 4th quarter, Holdings Channel reports. The fund owned 21,896,288 shares of the financial services provider’s stock after selling 35,893 shares during the period. Vanguard Group Inc. owned about 0.11% of Raymond James worth $3,401,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RJF. Stevens Capital Management LP purchased a new stake in shares of Raymond James in the 4th quarter worth $276,000. LPL Financial LLC increased its position in Raymond James by 12.6% in the fourth quarter. LPL Financial LLC now owns 97,692 shares of the financial services provider’s stock worth $15,175,000 after buying an additional 10,906 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Raymond James in the fourth quarter worth about $10,512,000. Intellus Advisors LLC purchased a new position in shares of Raymond James during the 4th quarter valued at about $867,000. Finally, Sei Investments Co. grew its stake in shares of Raymond James by 1.9% during the 4th quarter. Sei Investments Co. now owns 910,518 shares of the financial services provider’s stock valued at $141,431,000 after acquiring an additional 16,739 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America lifted their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JMP Securities upped their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Citigroup raised their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Nine 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, Raymond James currently has an average rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Up 0.5 %

NYSE RJF opened at $145.73 on Wednesday. The stock has a 50 day moving average price of $156.35 and a 200-day moving average price of $150.12. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a market capitalization of $29.86 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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, equities analysts predict that Raymond James will post 11.17 EPS for the current fiscal 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is 19.51%.

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.