Silvercrest Asset Management Group LLC Acquires 2,725 Shares of Raymond James (NYSE:RJF)

Silvercrest Asset Management Group LLC grew its stake in shares of Raymond James (NYSE:RJF - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 412,071 shares of the financial services provider's stock after buying an additional 2,725 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.20% of Raymond James worth $64,007,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. CX Institutional raised its holdings in shares of Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider's stock worth $361,000 after acquiring an additional 66 shares in the last quarter. Crestwood Advisors Group LLC increased its position in Raymond James by 3.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider's stock worth $308,000 after purchasing an additional 67 shares during the last quarter. Stablepoint Partners LLC raised its stake in Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider's stock valued at $2,276,000 after purchasing an additional 73 shares in the last quarter. Keybank National Association OH raised its stake in Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider's stock valued at $1,747,000 after purchasing an additional 76 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Raymond James by 23.9% during the fourth quarter. Private Trust Co. NA now owns 487 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Trading Up 0.4%

NYSE RJF opened at $152.85 on Friday. The stock has a market cap of $30.84 billion, a PE ratio of 14.91, a PEG ratio of 0.90 and a beta of 1.02. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company's 50-day moving average price is $139.00 and its 200-day moving average price is $152.41. 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 (NYSE:RJF - Get Free Report) last issued 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 quarter in the prior year, the company earned $2.31 earnings per share. Raymond James's revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 yield of 1.31%. The ex-dividend date was Tuesday, April 1st. Raymond James's dividend payout ratio (DPR) is presently 19.25%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley boosted their price objective 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. Bank of America lowered Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research note on Wednesday, April 30th. StockNews.com downgraded Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods increased their price target on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $153.82.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred 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 directly owns 78,227 shares of the company's stock, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.54% of the company's stock.

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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