Mackenzie Financial Corp grew its position in Raymond James (NYSE:RJF - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,590 shares of the financial services provider's stock after acquiring an additional 4,309 shares during the quarter. Mackenzie Financial Corp's holdings in Raymond James were worth $4,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of RJF. Barclays PLC raised its position in Raymond James by 33.5% during the 3rd quarter. Barclays PLC now owns 847,108 shares of the financial services provider's stock valued at $103,738,000 after purchasing an additional 212,697 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 valued at $556,533,000 after purchasing an additional 488,245 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Raymond James by 0.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,095 shares of the financial services provider's stock valued at $5,451,000 after purchasing an additional 249 shares during the period. Flagship Harbor Advisors LLC grew its holdings in Raymond James by 6.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,832 shares of the financial services provider's stock worth $440,000 after acquiring an additional 172 shares during the period. Finally, Blue Trust Inc. grew its holdings in Raymond James by 15.2% during the fourth quarter. Blue Trust Inc. now owns 5,407 shares of the financial services provider's stock worth $840,000 after acquiring an additional 713 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.
Insiders Place Their Bets
In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider now directly owns 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on RJF. JPMorgan Chase & Co. decreased their target price on Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley lifted 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. JMP Securities reiterated a "market outperform" rating and issued a $175.00 target price on shares of Raymond James in a report on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price target on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Finally, Bank of America downgraded Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $153.82.
Check Out Our Latest Report on RJF
Raymond James Stock Down 0.5%
Shares of Raymond James stock traded down $0.76 on Friday, hitting $146.97. 2,849,562 shares of the company traded hands, compared to its average volume of 1,315,266. The company has a 50-day moving average price of $140.27 and a 200 day moving average price of $152.08. 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 has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a market cap of $29.65 billion, a PE ratio of 14.34, a PEG ratio of 0.90 and a beta of 1.02.
Raymond James (NYSE:RJF - Get Free Report) last released 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). The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm's revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. Sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current year.
Raymond James Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.36%. Raymond James's dividend payout ratio is 19.25%.
Raymond James Profile
(
Free Report)
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.
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