Royal Bank of Canada Grows Stock Holdings in Raymond James (NYSE:RJF)

Royal Bank of Canada grew its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 48.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 365,961 shares of the financial services provider's stock after purchasing an additional 119,637 shares during the period. Royal Bank of Canada owned approximately 0.18% of Raymond James worth $56,845,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. TCTC Holdings LLC lifted its holdings in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 217 shares during the last quarter. Covestor Ltd increased its position in shares of Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in shares of Raymond James during the fourth quarter valued at approximately $53,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Trading Down 0.8%

NYSE:RJF opened at $152.56 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.01 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 $30.78 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The company has a 50 day simple moving average of $139.80 and a two-hundred day simple moving average of $152.56.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS 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 the consensus estimate of $3.46 billion. During the same period last year, the firm posted $2.31 EPS. The company's revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, April 1st. Raymond James's payout ratio is 19.25%.

Insider Activity

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RJF. StockNews.com downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Wells Fargo & Company reduced their price target on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Citigroup reduced their price target on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley raised their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Bank of America downgraded shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research report on Wednesday, April 30th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $153.82.

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.

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