Mercer Global Advisors Inc. ADV acquired a new stake in Raymond James (NYSE:RJF) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 15,750 shares of the financial services provider’s stock, valued at approximately $1,172,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of RJF. Norges Bank bought a new stake in Raymond James in the 4th quarter valued at $62,711,000. Thrivent Financial for Lutherans lifted its position in Raymond James by 2,964.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 685,464 shares of the financial services provider’s stock valued at $51,005,000 after acquiring an additional 663,096 shares in the last quarter. Bank of Nova Scotia lifted its position in Raymond James by 1,105.4% in the 4th quarter. Bank of Nova Scotia now owns 319,579 shares of the financial services provider’s stock valued at $23,779,000 after acquiring an additional 293,066 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in Raymond James in the 4th quarter valued at $16,288,000. Finally, Eaton Vance Management lifted its position in Raymond James by 51.5% in the 4th quarter. Eaton Vance Management now owns 561,633 shares of the financial services provider’s stock valued at $41,791,000 after acquiring an additional 190,824 shares in the last quarter. 71.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of RJF stock opened at $87.46 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48. Raymond James has a 1 year low of $69.11 and a 1 year high of $102.17. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 13.52 and a beta of 1.55.
Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.06. Raymond James had a net margin of 12.79% and a return on equity of 15.86%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the business earned $1.61 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Research analysts expect that Raymond James will post 7.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.36 annualized dividend and a yield of 1.55%. Raymond James’s payout ratio is currently 21.02%.
Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Raymond James from $87.00 to $93.00 and gave the company a “neutral” rating in a research report on Monday. ValuEngine raised shares of Raymond James from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Zacks Investment Research raised shares of Raymond James from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Wells Fargo & Co boosted their price objective on shares of Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Argus assumed coverage on shares of Raymond James in a research report on Wednesday, March 6th. They issued a “buy” rating and a $92.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $94.63.
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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.
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