1,607 Shares in Raymond James (NYSE:RJF) Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,607 shares of the financial services provider’s stock, valued at approximately $250,000.

A number of other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in shares of Raymond James by 24.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,969 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 587 shares in the last quarter. HighTower Advisors LLC increased its stake in Raymond James by 3.2% during the fourth quarter. HighTower Advisors LLC now owns 17,843 shares of the financial services provider’s stock valued at $2,771,000 after purchasing an additional 546 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Raymond James by 158.2% during the fourth quarter. Wealthfront Advisers LLC now owns 19,178 shares of the financial services provider’s stock worth $2,979,000 after purchasing an additional 11,751 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Raymond James by 6.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 25,028 shares of the financial services provider’s stock worth $3,888,000 after buying an additional 1,478 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new position in shares of Raymond James in the 4th quarter valued at about $5,092,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Up 2.0 %

RJF stock opened at $142.64 on Monday. The firm’s 50-day moving average is $158.23 and its two-hundred day moving average is $148.86. The company has a market capitalization of $29.23 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. 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 (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate 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, analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid 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 1.40%. Raymond James’s dividend payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RJF shares. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup upped their price objective on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $167.55.

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.