New Age Alpha Advisors LLC Makes New Investment in Raymond James (NYSE:RJF)

New Age Alpha Advisors LLC bought a new stake in shares of Raymond James (NYSE:RJF) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,671 shares of the financial services provider’s stock, valued at approximately $1,658,000.

Other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC increased its holdings in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the last quarter. Quarry LP raised its holdings 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 buying an additional 187 shares during the period. Finally, Eastern Bank acquired a new position in Raymond James in the fourth quarter valued at about $68,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RJF has been the subject of a number of recent analyst reports. 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 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. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company boosted their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Nine 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. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Stock Performance

Shares of RJF opened at $138.97 on Monday. The stock has a 50-day simple moving average of $155.00 and a 200-day simple moving average of $150.67. 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 has a 1 year low of $104.24 and a 1 year high of $174.32. The stock has a market capitalization of $28.48 billion, a PE ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS 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, analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal 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 paid a $0.50 dividend. 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 presently 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.