DnB Asset Management AS Has $5.51 Million Stock Position in Raymond James (NYSE:RJF)

DnB Asset Management AS raised its holdings in shares of Raymond James (NYSE:RJF) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,472 shares of the financial services provider’s stock after buying an additional 587 shares during the quarter. DnB Asset Management AS’s holdings in Raymond James were worth $5,510,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RJF. Coldstream Capital Management Inc. raised its stake in Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 64 shares during the last quarter. CX Institutional raised its position in shares of Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after buying an additional 66 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Raymond James by 3.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after buying an additional 67 shares during the period. Stablepoint Partners LLC grew its position in Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after buying an additional 73 shares in the last quarter. Finally, Keybank National Association OH increased its stake in Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock valued at $1,747,000 after acquiring an additional 76 shares during the period. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on RJF shares. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup increased their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JMP Securities lifted their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley increased their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Stock Performance

NYSE:RJF opened at $138.97 on Monday. The stock has a market capitalization of $28.48 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm has a 50 day moving average of $155.00 and a 200-day moving average of $150.67. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, sell-side analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

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