Public Employees Retirement System of Ohio lessened its holdings in Raymond James (NYSE:RJF) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,740 shares of the financial services provider’s stock after selling 11,811 shares during the quarter. Public Employees Retirement System of Ohio owned 0.09% of Raymond James worth $9,728,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in RJF. Man Group plc grew its stake in shares of Raymond James by 134.6% in the third quarter. Man Group plc now owns 32,465 shares of the financial services provider’s stock valued at $2,988,000 after acquiring an additional 18,627 shares in the last quarter. Private Capital Group LLC grew its stake in Raymond James by 103.4% during the fourth quarter. Private Capital Group LLC now owns 708 shares of the financial services provider’s stock worth $53,000 after buying an additional 360 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Raymond James by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 2,642,714 shares of the financial services provider’s stock worth $243,262,000 after buying an additional 11,510 shares in the last quarter. CENTRAL TRUST Co grew its stake in Raymond James by 27.5% during the fourth quarter. CENTRAL TRUST Co now owns 2,382 shares of the financial services provider’s stock worth $177,000 after buying an additional 514 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in Raymond James by 1.3% during the third quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock worth $1,266,683,000 after buying an additional 182,616 shares in the last quarter. 71.58% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on RJF. Citigroup increased their price objective on shares of Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. ValuEngine upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Wells Fargo & Co raised their price target on shares of Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Argus assumed coverage on shares of Raymond James in a research note on Wednesday, March 6th. They issued a “buy” rating and a $92.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $94.63.
Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Raymond James had a net margin of 12.79% and a return on equity of 15.86%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. As a group, research analysts anticipate that Raymond James will post 7.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.36 dividend on an annualized basis and a yield of 1.52%. Raymond James’s dividend payout ratio (DPR) is presently 21.02%.
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Raymond James 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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