Raymond James (NYSE:RJF) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its position in Raymond James (NYSE:RJF) by 30.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,601 shares of the financial services provider’s stock after purchasing an additional 2,488 shares during the period. NEOS Investment Management LLC’s holdings in Raymond James were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. State Street Corp raised its holdings in Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after purchasing an additional 54,265 shares during the period. JPMorgan Chase & Co. boosted its position in Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after purchasing an additional 488,245 shares in the last quarter. Geode Capital Management LLC grew its holdings in Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after purchasing an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Raymond James by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider’s stock valued at $167,472,000 after buying an additional 13,817 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RJF shares. JPMorgan Chase & Co. lifted their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup boosted their price objective on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $167.55.

Raymond James Stock Down 2.6 %

Shares of NYSE:RJF opened at $138.97 on Friday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The stock has a market cap of $28.48 billion, a P/E ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04. The business has a fifty day moving average of $155.00 and a two-hundred day moving average of $150.42. 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 (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, research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s payout ratio is presently 19.51%.

About Raymond James

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.