Nuveen Asset Management LLC Purchases 76,699 Shares of Raymond James (NYSE:RJF)

Nuveen Asset Management LLC boosted its position in shares of Raymond James (NYSE:RJF - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 791,914 shares of the financial services provider's stock after buying an additional 76,699 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.39% of Raymond James worth $123,008,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in RJF. TCTC Holdings LLC lifted its stake in shares of Raymond James by 176.7% in the 4th 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 period. Y.D. More Investments Ltd grew its stake in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 127 shares during the period. Plato Investment Management Ltd increased its holdings in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after acquiring an additional 217 shares in the last quarter. Covestor Ltd raised 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 worth $52,000 after purchasing an additional 122 shares during the period. Finally, Mizuho Bank Ltd. acquired a new position in shares of Raymond James in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Buying and Selling

In other news, insider James E. Bunn sold 3,650 shares of the 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 transaction, the insider now owns 78,227 shares of the company's stock, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by insiders.

Raymond James Price Performance

Raymond James stock traded down $1.25 during midday trading on Tuesday, reaching $152.56. The company's stock had a trading volume of 761,419 shares, compared to its average volume of 1,301,605. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $139.53 and a 200-day moving average price of $152.56. The stock 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.

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

Raymond James Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Citigroup dropped their price target on Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. decreased their price objective on Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Finally, JMP Securities reissued a "market outperform" rating and set a $175.00 price target on shares of Raymond James in a research report on Thursday, April 24th. Eleven research 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 data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $153.82.

About Raymond James

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.