Raymond James (NYSE:RJF) Stake Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in Raymond James (NYSE:RJF) by 0.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,156,992 shares of the financial services provider’s stock after buying an additional 553 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.06% of Raymond James worth $335,046,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RJF. Verition Fund Management LLC acquired a new position in shares of Raymond James during the third quarter valued at $519,000. Investment Management Corp of Ontario boosted its holdings in shares of Raymond James by 50.9% in the third quarter. Investment Management Corp of Ontario now owns 6,526 shares of the financial services provider’s stock valued at $799,000 after acquiring an additional 2,200 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Raymond James during the third quarter valued at approximately $11,124,000. Quarry LP raised its holdings in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 187 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in Raymond James by 59.7% in the third quarter. Quantinno Capital Management LP now owns 26,428 shares of the financial services provider’s stock worth $3,236,000 after purchasing an additional 9,879 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Raymond James Stock Up 3.0 %

NYSE:RJF opened at $142.29 on Thursday. The business’s fifty day moving average price is $153.24 and its 200 day moving average price is $150.90. The firm has a market capitalization of $29.16 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.90 and a beta of 1.04. 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 has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF) last issued its 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%. On average, sell-side analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RJF shares. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the company from $161.00 to $185.00 in a research note on Monday, January 6th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Bank of America lifted their price target 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. Finally, Morgan Stanley raised their price objective on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Nine 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.73.

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.