Korea Investment CORP Trims Stock Holdings in Raymond James (NYSE:RJF)

Korea Investment CORP decreased its holdings in Raymond James (NYSE:RJF) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,522 shares of the financial services provider’s stock after selling 12,194 shares during the quarter. Korea Investment CORP owned 0.07% of Raymond James worth $23,225,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Assetmark Inc. boosted its stake in shares of Raymond James by 43.8% during the fourth 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 fourth quarter valued at about $105,701,000. Franklin Resources Inc. grew its holdings in Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after buying an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James during the fourth quarter worth about $511,000. Finally, Proficio Capital Partners LLC purchased a new stake in Raymond James in the 4th quarter worth approximately $21,334,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

RJF has been the topic of several research reports. Bank of America boosted their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Morgan Stanley lifted their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $167.55.

Raymond James Stock Down 2.6 %

Shares of Raymond James stock opened at $138.97 on Friday. The stock has a 50-day simple moving average of $155.00 and a 200-day simple moving average of $150.42. 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 $28.48 billion, a price-to-earnings ratio of 13.56, a P/E/G 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 (NYSE:RJF) last released its quarterly earnings results 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%. On average, equities research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

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

Raymond James Company 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.