Raymond James (NYSE:RJF) Shares Bought by Prudential PLC

Prudential PLC increased its holdings in Raymond James (NYSE:RJF) by 384.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 30,302 shares of the financial services provider’s stock after buying an additional 24,053 shares during the period. Prudential PLC’s holdings in Raymond James were worth $4,707,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RJF. TCTC Holdings LLC grew its holdings in shares of Raymond James by 176.7% during 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 during the last quarter. Y.D. More Investments Ltd boosted its position in 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 valued at $36,000 after purchasing an additional 127 shares during the period. Plato Investment Management Ltd grew its stake in Raymond James by 1,142.1% during the 4th 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 increased its position in Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares during the period. Finally, Eastern Bank bought a new stake in Raymond James in the fourth quarter valued at $68,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America raised their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price target on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday. Nine equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $164.64.

Raymond James Price Performance

NYSE:RJF opened at $123.51 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. The business’s 50-day moving average price is $151.43 and its 200 day moving average price is $150.99. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The firm has a market cap of $25.31 billion, a P/E ratio of 12.05, a PEG ratio of 0.90 and a beta of 0.94.

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, 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%. As a group, sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.62%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

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.