Raymond James (NYSE:RJF) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank lifted its position in shares of Raymond James (NYSE:RJF - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,697 shares of the financial services provider's stock after buying an additional 2,158 shares during the period. Toronto Dominion Bank's holdings in Raymond James were worth $10,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RJF. Select Equity Group L.P. purchased a new stake in Raymond James in the 4th quarter valued at about $81,611,000. Snowden Capital Advisors LLC increased its position in shares of Raymond James by 19.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 3,103 shares of the financial services provider's stock valued at $482,000 after acquiring an additional 507 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of Raymond James by 0.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 412,071 shares of the financial services provider's stock valued at $64,007,000 after acquiring an additional 2,725 shares during the period. Royal Bank of Canada lifted its holdings in shares of Raymond James by 48.6% in the 4th quarter. Royal Bank of Canada now owns 365,961 shares of the financial services provider's stock worth $56,845,000 after acquiring an additional 119,637 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Raymond James by 2.7% during the 4th quarter. Rafferty Asset Management LLC now owns 64,557 shares of the financial services provider's stock worth $10,028,000 after purchasing an additional 1,717 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RJF. JPMorgan Chase & Co. cut 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. Cowen reaffirmed a "hold" rating on shares of Raymond James in a research note on Thursday, April 24th. Wells Fargo & Company decreased their target price on Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Bank of America cut 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. Finally, 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. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $153.82.

Insider Activity

In other news, insider James E. Bunn sold 3,650 shares of the company'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 transaction, the insider now directly owns 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company's stock.

Raymond James Stock Down 0.7%

NYSE RJF traded down $0.95 during trading hours on Monday, hitting $145.52. 639,571 shares of the company were exchanged, compared to its average volume of 1,306,564. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $29.36 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.90 and a beta of 1.02. The company has a 50 day moving average of $139.99 and a two-hundred day moving average of $152.45. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.

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 analysts' expectations of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 earnings per share. Equities research analysts anticipate 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Tuesday, July 1st. Raymond James's dividend payout ratio is presently 19.25%.

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.