60,298 Shares in Raymond James (NYSE:RJF) Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in shares of Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 60,298 shares of the financial services provider's stock, valued at approximately $9,366,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Raymond James in the fourth quarter worth approximately $294,647,000. Raymond James Financial Inc. purchased a new position in Raymond James during the fourth quarter worth approximately $105,701,000. Select Equity Group L.P. purchased a new position in Raymond James during the fourth quarter worth approximately $81,611,000. JPMorgan Chase & Co. lifted its position 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 buying an additional 488,245 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Raymond James by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock valued at $88,144,000 after purchasing an additional 461,069 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Performance

RJF traded up $1.47 on Thursday, hitting $147.71. 1,180,272 shares of the company traded hands, compared to its average volume of 1,306,868. The stock has a market capitalization of $29.80 billion, a PE ratio of 14.41, a PEG ratio of 0.90 and a beta of 1.02. The company has a 50 day moving average of $140.20 and a 200-day moving average of $152.29. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

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

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 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 1.35%. The ex-dividend date is Tuesday, July 1st. Raymond James's dividend payout ratio is presently 19.25%.

Insider Buying and Selling

In other news, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RJF shares. The Goldman Sachs Group reduced their target price on Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods lifted their target price on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Cowen reaffirmed a "hold" rating on shares of Raymond James in a research note on Thursday, April 24th. Wells Fargo & Company dropped their price objective on Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $153.82.

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.