AQR Capital Management LLC Purchases 106,841 Shares of Raymond James (NYSE:RJF)

AQR Capital Management LLC lifted its stake in Raymond James (NYSE:RJF - Free Report) by 53.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,129 shares of the financial services provider's stock after purchasing an additional 106,841 shares during the period. AQR Capital Management LLC owned 0.15% of Raymond James worth $47,551,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Raymond James in the 4th quarter valued at $294,647,000. Raymond James Financial Inc. bought a new position in Raymond James in the fourth quarter valued at about $105,701,000. JPMorgan Chase & Co. increased its position in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock worth $556,533,000 after purchasing an additional 488,245 shares during the period. PNC Financial Services Group Inc. raised its holdings in Raymond James by 433.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock worth $88,144,000 after purchasing an additional 461,069 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Raymond James by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after purchasing an additional 327,739 shares during the period. Institutional investors own 83.83% of the company's stock.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now directly owns 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. UBS Group upgraded shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price target on Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Bank of America cut Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research note on Wednesday, April 30th. Finally, Cowen restated a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $153.82.

Raymond James Stock Up 0.2 %

Shares of Raymond James stock traded up $0.28 on Monday, hitting $142.04. The company had a trading volume of 781,271 shares, compared to its average volume of 1,294,589. The stock has a 50-day moving average of $138.90 and a 200-day moving average of $152.19. 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 has a twelve month low of $104.24 and a twelve month high of $174.32. The firm has a market capitalization of $29.11 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.90 and a beta of 1.02.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company posted $2.31 earnings per share. Raymond James's revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Tuesday, April 1st. Raymond James's dividend payout ratio is presently 19.25%.

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.