Heartland Advisors Inc. Purchases Shares of 36,991 Raymond James (NYSE:RJF)

Heartland Advisors Inc. acquired a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,991 shares of the financial services provider’s stock, valued at approximately $5,746,000.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC grew its stake in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after buying an additional 217 shares during the last quarter. Quarry LP raised its position in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Raymond James in the fourth quarter valued at $68,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Down 2.6 %

Shares of Raymond James stock opened at $138.97 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a market capitalization of $28.48 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04. The firm’s 50-day moving average price is $155.00 and its two-hundred day moving average price is $150.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. Raymond James’s dividend payout ratio is currently 19.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their target price 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. Citigroup upped their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.