Primecap Management Co. CA Has $1.78 Billion Stock Position in Raymond James (NYSE:RJF)

Primecap Management Co. CA lessened its position in shares of Raymond James (NYSE:RJF) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,469,156 shares of the financial services provider’s stock after selling 507,256 shares during the quarter. Raymond James makes up about 1.4% of Primecap Management Co. CA’s investment portfolio, making the stock its 21st largest position. Primecap Management Co. CA owned 0.06% of Raymond James worth $1,781,504,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its position in Raymond James by 1.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 64 shares during the last quarter. CX Institutional grew its stake in shares of Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 66 shares during the period. Crestwood Advisors Group LLC grew its stake in shares of Raymond James by 3.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 67 shares during the period. Stablepoint Partners LLC grew its stake in shares of Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after purchasing an additional 73 shares during the period. Finally, Keybank National Association OH grew its stake in Raymond James by 0.7% in the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock valued at $1,747,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on RJF. Bank of America boosted their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Wells Fargo & Company increased their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley increased their price target on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Nine 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.com, the company currently has an average rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Performance

Shares of NYSE:RJF opened at $144.54 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $29.62 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.90 and a beta of 1.04. The firm’s 50-day moving average is $157.94 and its 200 day moving average is $149.04. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS 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%. Research analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.38%. 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.