Schonfeld Strategic Advisors LLC Increases Stock Position in Raymond James (NYSE:RJF)

Schonfeld Strategic Advisors LLC increased its stake in Raymond James (NYSE:RJF - Free Report) by 129.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,296 shares of the financial services provider's stock after purchasing an additional 2,421 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Raymond James were worth $667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Raymond James by 53.6% during the 4th quarter. AQR Capital Management LLC now owns 306,129 shares of the financial services provider's stock valued at $47,551,000 after buying an additional 106,841 shares in the last quarter. Northern Trust Corp increased its holdings in Raymond James by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock worth $327,314,000 after purchasing an additional 327,739 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Raymond James by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 117,137 shares of the financial services provider's stock valued at $18,195,000 after buying an additional 415 shares during the period. Earnest Partners LLC raised its holdings in shares of Raymond James by 1.0% in the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock valued at $393,554,000 after acquiring an additional 24,195 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Raymond James in the 4th quarter valued at about $4,801,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Up 4.2%

Shares of NYSE RJF traded up $6.09 during mid-day trading on Monday, hitting $151.46. The company had a trading volume of 1,517,436 shares, compared to its average volume of 1,302,492. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a market capitalization of $31.04 billion, a PE ratio of 14.78, a price-to-earnings-growth 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. The business's 50-day simple moving average is $138.33 and its 200 day simple moving average is $152.38.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The company's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 earnings per share. On average, analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. Raymond James's payout ratio is currently 19.25%.

Insider Activity at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup cut their price target on Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. JMP Securities reaffirmed a "market outperform" rating and set a $175.00 price target on shares of Raymond James in a research report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Morgan Stanley increased their price objective on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, Cowen reissued a "hold" rating on shares of Raymond James in a research report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Raymond James has an average rating of "Hold" and an average 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.