National Pension Service increased its position in shares of Raymond James (NYSE:RJF) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,902 shares of the financial services provider’s stock after buying an additional 9,566 shares during the period. National Pension Service owned about 0.12% of Raymond James worth $13,953,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Raymond James in the 4th quarter valued at about $26,000. CSat Investment Advisory L.P. boosted its stake in Raymond James by 86.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 345 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 160 shares during the period. Bremer Trust National Association acquired a new position in Raymond James during the 4th quarter valued at about $31,000. Private Capital Group LLC boosted its stake in Raymond James by 103.4% during the 4th quarter. Private Capital Group LLC now owns 708 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 360 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Raymond James by 41.1% during the 4th quarter. Captrust Financial Advisors now owns 748 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 218 shares during the period. 71.58% of the stock is currently owned by hedge funds and other institutional investors.
RJF has been the subject of a number of research analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Raymond James in a research note on Thursday, January 24th. ValuEngine lowered shares of Raymond James from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Credit Suisse Group reduced their price target on shares of Raymond James from $100.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, January 14th. Argus initiated coverage on shares of Raymond James in a report on Wednesday, March 6th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, Compass Point initiated coverage on shares of Raymond James in a report on Monday, March 11th. They issued a “buy” rating and a $96.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $94.63.
Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.06. Raymond James had a net margin of 12.79% and a return on equity of 15.86%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Raymond James will post 7.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, March 29th. Raymond James’s payout ratio is presently 21.02%.
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.
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