Raymond James Financial Inc. Acquires Shares of 60,027 Sprott Inc. (NYSE:SII)

Raymond James Financial Inc. bought a new stake in Sprott Inc. (NYSE:SII - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 60,027 shares of the company's stock, valued at approximately $2,531,000. Raymond James Financial Inc. owned about 0.23% of Sprott as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SII. Sprott Inc. increased its holdings in shares of Sprott by 6.9% in the fourth quarter. Sprott Inc. now owns 1,561,188 shares of the company's stock valued at $65,835,000 after purchasing an additional 100,585 shares during the period. Norges Bank purchased a new position in Sprott in the 4th quarter valued at $20,936,000. Horizon Kinetics Asset Management LLC increased its stake in Sprott by 18.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 192,466 shares of the company's stock valued at $8,116,000 after buying an additional 30,622 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Sprott by 757.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 184,995 shares of the company's stock worth $7,794,000 after buying an additional 163,427 shares during the last quarter. Finally, Tocqueville Asset Management L.P. lifted its stake in shares of Sprott by 81.8% in the 4th quarter. Tocqueville Asset Management L.P. now owns 141,698 shares of the company's stock worth $5,975,000 after acquiring an additional 63,758 shares during the period. Hedge funds and other institutional investors own 28.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SII. BMO Capital Markets initiated coverage on shares of Sprott in a research note on Friday, March 7th. They set an "outperform" rating on the stock. Canaccord Genuity Group began coverage on Sprott in a research note on Tuesday, January 21st. They set a "buy" rating for the company.

Sprott Price Performance

Shares of SII traded down $0.13 during mid-day trading on Monday, reaching $51.22. 29,483 shares of the company's stock were exchanged, compared to its average volume of 146,718. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.06. Sprott Inc. has a 52-week low of $38.41 and a 52-week high of $54.81. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 28.14 and a beta of 0.98. The company has a 50-day simple moving average of $45.82 and a two-hundred day simple moving average of $44.25.

Sprott (NYSE:SII - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.12. The business had revenue of $36.80 million for the quarter, compared to the consensus estimate of $38.45 million. Sprott had a return on equity of 15.02% and a net margin of 27.38%.

Sprott Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Monday, March 10th. Sprott's dividend payout ratio is currently 63.16%.

Sprott Company Profile

Sprott Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides asset management, portfolio management, wealth management, fund management, and administrative and consulting services to its clients. It offers mutual funds, hedge funds, and offshore funds, along with managed accounts.