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

Nuveen Asset Management LLC lifted its stake in shares of Raymond James (NYSE:RJF - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 about 0.39% of Raymond James worth $123,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RJF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Raymond James by 5.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,953 shares of the financial services provider's stock worth $2,944,000 after purchasing an additional 894 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Raymond James in the 4th quarter worth about $12,918,000. Janus Henderson Group PLC increased its stake in shares of Raymond James by 12.5% in the 4th quarter. Janus Henderson Group PLC now owns 23,532 shares of the financial services provider's stock worth $3,655,000 after acquiring an additional 2,619 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Raymond James during the 4th quarter valued at about $9,366,000. Finally, Gotham Asset Management LLC boosted its stake in Raymond James by 8.1% during the fourth quarter. Gotham Asset Management LLC now owns 19,100 shares of the financial services provider's stock worth $2,967,000 after acquiring an additional 1,425 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RJF has been the topic of a number of recent research reports. Cowen restated a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Morgan Stanley upped their price target on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. JMP Securities reiterated a "market outperform" rating and set a $175.00 price objective on shares of Raymond James in a research note on Thursday, April 24th. Citigroup cut their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $153.82.

Insider Buying and Selling

In related news, insider James E. Bunn sold 3,650 shares of the company'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 completion of the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Raymond James Stock Performance

Shares of Raymond James stock traded down $1.87 during trading on Thursday, hitting $146.59. 431,556 shares of the company's stock traded hands, compared to its average volume of 1,301,021. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The business has a 50-day simple moving average of $139.91 and a 200-day simple moving average of $152.54. The stock has a market capitalization of $29.58 billion, a P/E ratio of 14.30, a PEG ratio of 0.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company posted $2.31 EPS. Raymond James's revenue was up 9.0% on a year-over-year basis. As a group, analysts forecast 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 will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.36%. Raymond James's dividend payout ratio (DPR) is 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.