Great Lakes Advisors LLC Buys New Position in Raymond James (NYSE:RJF)

Great Lakes Advisors LLC purchased a new position in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,607 shares of the financial services provider’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RJF. Wellington Management Group LLP grew its stake in Raymond James by 31.4% in 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 during the period. Raymond James Financial Inc. purchased a new position in Raymond James during the fourth quarter worth about $105,701,000. JPMorgan Chase & Co. boosted its stake in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Raymond James by 433.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock valued at $88,144,000 after buying an additional 461,069 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in shares of Raymond James during the 3rd quarter valued at about $34,105,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

Shares of RJF stock opened at $142.64 on Monday. The firm has a fifty day simple moving average of $158.23 and a 200-day simple moving average of $148.86. The company has a market capitalization of $29.23 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last posted 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 net margin of 14.06% and a return on equity of 19.71%. Equities research analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Analyst Ratings Changes

RJF has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Nine research 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. Based on data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target 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.