Atlanta Consulting Group Advisors LLC Trims Stake in Raymond James (NYSE:RJF)

Atlanta Consulting Group Advisors LLC trimmed its position in Raymond James (NYSE:RJF) by 22.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,779 shares of the financial services provider’s stock after selling 1,110 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Raymond James were worth $587,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. lifted its holdings in shares of Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after buying an additional 138 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Raymond James in the 4th quarter worth $105,701,000. Franklin Resources Inc. lifted its holdings in shares of Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after buying an additional 9,217 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James in the 4th quarter worth $511,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Raymond James in the 3rd quarter worth $3,561,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Up 2.0 %

Shares of RJF stock opened at $142.64 on Monday. The stock’s 50-day simple moving average is $158.23 and its 200-day simple moving average is $148.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm has a market capitalization of $29.23 billion, a PE ratio of 13.92, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

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

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. 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 1.40%. Raymond James’s payout ratio is 19.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Citigroup upped 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. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Raymond James has an average rating of “Hold” and a consensus target price of $167.55.

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.