LPL Financial LLC Grows Position in Raymond James (NYSE:RJF)

LPL Financial LLC grew its position in shares of Raymond James (NYSE:RJF) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 97,692 shares of the financial services provider’s stock after acquiring an additional 10,906 shares during the quarter. LPL Financial LLC’s holdings in Raymond James were worth $15,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC lifted its position in Raymond James by 176.7% during the fourth 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 last quarter. Y.D. More Investments Ltd increased its stake in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its position in Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the period. Quarry LP lifted its stake in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Raymond James in the 4th quarter worth approximately $68,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on RJF. JMP Securities lifted their price objective on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Bank of America upped their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $167.55.

Raymond James Stock Performance

Shares of NYSE:RJF opened at $137.94 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $28.27 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The firm has a 50 day moving average of $153.80 and a 200 day moving average of $150.96. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s payout ratio is currently 19.51%.

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.