Raymond James (NYSE:RJF) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its stake in Raymond James (NYSE:RJF) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,243 shares of the financial services provider’s stock after selling 7,970 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.05% of Raymond James worth $16,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted 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 valued at $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. State Street Corp lifted its position in shares of Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Raymond James by 12.0% in the third 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Raymond James by 0.3% during the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after purchasing an additional 12,869 shares in the last quarter. Finally, Norges Bank acquired a new position in Raymond James in the 4th quarter valued at $294,647,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RJF shares. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Citigroup raised their target price 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. JMP Securities boosted their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $167.55.

Raymond James Stock Down 2.6 %

RJF opened at $138.97 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $155.00 and a two-hundred day moving average price of $150.67. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a market cap of $28.48 billion, a PE ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last announced 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 return on equity of 19.71% and a net margin of 14.06%. As a group, research analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend 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.