RFG Bristol Wealth Advisors LLC Makes New Investment in Raymond James (NYSE:RJF)

RFG Bristol Wealth Advisors LLC bought a new stake in Raymond James (NYSE:RJF) during the 4th quarter, HoldingsChannel reports. The fund bought 9,796 shares of the financial services provider’s stock, valued at approximately $1,522,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. State Street Corp boosted its stake in shares of Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after buying an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after acquiring an additional 488,245 shares during the period. Geode Capital Management LLC raised its position in Raymond James by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after acquiring an additional 40,576 shares in the last quarter. Finally, Norges Bank acquired a new stake in Raymond James in the fourth quarter valued at $294,647,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. JMP Securities upped their price target on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price objective on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Citigroup lifted their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average target price of $167.55.

Raymond James Trading Down 0.7 %

Shares of RJF stock opened at $137.94 on Wednesday. The company has a market capitalization of $28.27 billion, a price-to-earnings ratio of 13.46, a PEG 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. The firm has a 50-day moving average price of $153.80 and a 200 day moving average price of $150.96. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

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

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is presently 19.51%.

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.