Brandywine Global Investment Management LLC Lowers Stock Position in Raymond James (NYSE:RJF)

Brandywine Global Investment Management LLC reduced its position in Raymond James (NYSE:RJF) by 6.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 108,243 shares of the financial services provider’s stock after selling 7,970 shares during the period. Brandywine Global Investment Management LLC’s holdings in Raymond James were worth $16,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC raised its holdings in shares of Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the period. Y.D. More Investments Ltd raised its holdings in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Plato Investment Management Ltd lifted its position in Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 217 shares in the last quarter. Quarry LP grew its stake in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Raymond James in the fourth quarter worth $68,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Down 2.6 %

RJF stock opened at $138.97 on Monday. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a 50-day moving average of $155.00 and a two-hundred day moving average of $150.67. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating 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%. As a group, equities research analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RJF shares. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America upped their price target on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JMP Securities lifted their price target on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.