Nisa Investment Advisors LLC Cuts Stake in Raymond James (RJF)

Nisa Investment Advisors LLC lowered its position in shares of Raymond James (NYSE:RJF) by 7.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 66,080 shares of the financial services provider’s stock after selling 5,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Raymond James were worth $5,313,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RJF. JPMorgan Chase & Co. increased its stake in shares of 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 valued at $243,262,000 after buying an additional 11,510 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Raymond James during the third quarter valued at $346,000. BlueMountain Capital Management LLC increased its stake in shares of Raymond James by 180.7% during the third quarter. BlueMountain Capital Management LLC now owns 10,960 shares of the financial services provider’s stock valued at $1,009,000 after buying an additional 7,056 shares during the period. Pacer Advisors Inc. increased its stake in shares of Raymond James by 13.7% during the third quarter. Pacer Advisors Inc. now owns 6,762 shares of the financial services provider’s stock valued at $622,000 after buying an additional 816 shares during the period. Finally, Man Group plc increased its stake in shares of Raymond James by 134.6% during the third quarter. Man Group plc now owns 32,465 shares of the financial services provider’s stock valued at $2,988,000 after buying an additional 18,627 shares during the period. Hedge funds and other institutional investors own 71.58% of the company’s stock.

Several brokerages have recently commented on RJF. Zacks Investment Research upgraded Raymond James from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Thursday, April 4th. ValuEngine upgraded Raymond James from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Citigroup raised their price target on Raymond James from $87.00 to $93.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Co raised their price target on Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $94.63.

Shares of RJF stock opened at $89.19 on Monday. Raymond James has a 1-year low of $69.11 and a 1-year high of $102.17. The stock has a market cap of $12.58 billion, a P/E ratio of 13.79 and a beta of 1.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.10 and a current ratio of 1.12.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Raymond James had a return on equity of 15.86% and a net margin of 12.79%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Raymond James will post 7.32 earnings per share 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 currently 21.02%.

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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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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