Morey & Quinn Wealth Partners LLC Takes $372,000 Position in Raymond James (NYSE:RJF)

Morey & Quinn Wealth Partners LLC purchased a new stake in Raymond James (NYSE:RJF) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,392 shares of the financial services provider’s stock, valued at approximately $372,000.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Raymond James by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock valued at $130,340,000 after purchasing an additional 7,121 shares during the period. Cerity Partners LLC grew its stake in shares of Raymond James by 5.6% in the third quarter. Cerity Partners LLC now owns 17,534 shares of the financial services provider’s stock valued at $2,147,000 after acquiring an additional 922 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Raymond James by 11.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 23,550 shares of the financial services provider’s stock worth $2,884,000 after purchasing an additional 2,349 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Raymond James by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 448,476 shares of the financial services provider’s stock valued at $54,920,000 after purchasing an additional 8,080 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Raymond James during the 3rd quarter worth approximately $1,508,000. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent research reports. Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Citigroup boosted their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Raymond James has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Stock Performance

NYSE:RJF opened at $145.73 on Wednesday. The company has a market capitalization of $29.86 billion, a PE ratio of 14.22, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a 50 day simple moving average of $156.35 and a two-hundred day simple moving average of $150.12.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Research analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. Raymond James’s dividend payout ratio (DPR) is presently 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.