Harvest Fund Management Co. Ltd Invests $641,000 in Raymond James (NYSE:RJF)

Harvest Fund Management Co. Ltd bought a new position in shares of Raymond James (NYSE:RJF) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,130 shares of the financial services provider’s stock, valued at approximately $641,000.

Several other large investors have also made changes to their positions in the business. Coldstream Capital Management Inc. raised its stake in shares of Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after buying an additional 64 shares during the period. CX Institutional raised its stake in shares of Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after buying an additional 66 shares during the period. Crestwood Advisors Group LLC raised its stake in Raymond James by 3.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 67 shares during the last quarter. Stablepoint Partners LLC raised its stake in Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after purchasing an additional 73 shares during the last quarter. Finally, Keybank National Association OH raised its stake in Raymond James by 0.7% in the 4th quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock valued at $1,747,000 after purchasing an additional 76 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

NYSE RJF opened at $141.64 on Friday. The stock has a market cap of $29.02 billion, a PE ratio of 13.82, a P/E/G ratio of 0.90 and a beta of 1.04. 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 has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a fifty day simple moving average of $157.02 and a 200-day simple moving average of $149.14.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is presently 19.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RJF shares. JMP Securities increased their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods increased their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley increased their price objective on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $167.55.

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.