Steward Partners Investment Advisory LLC Acquires 3,281 Shares of Raymond James (NYSE:RJF)

Steward Partners Investment Advisory LLC grew its holdings in Raymond James (NYSE:RJF) by 31.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,579 shares of the financial services provider’s stock after purchasing an additional 3,281 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Raymond James were worth $2,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RJF. Wellington Management Group LLP raised 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. JPMorgan Chase & Co. raised its stake in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Raymond James during the 3rd quarter worth approximately $34,105,000. Los Angeles Capital Management LLC raised its stake in shares of Raymond James by 554.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 290,389 shares of the financial services provider’s stock worth $45,106,000 after acquiring an additional 246,009 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Raymond James during the 3rd quarter worth approximately $28,985,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RJF. Citigroup boosted their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Bank of America boosted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JMP Securities boosted their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Down 0.3 %

RJF stock opened at $143.35 on Friday. The firm’s fifty day simple moving average is $159.80 and its 200-day simple moving average is $147.84. The company has a market capitalization of $29.37 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

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

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.