Raymond James (NYSE:RJF) Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors lessened its stake in Raymond James (NYSE:RJF) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,416 shares of the financial services provider’s stock after selling 176 shares during the quarter. Heritage Wealth Advisors’ holdings in Raymond James were worth $2,084,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Assetmark Inc. grew its position in shares of Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 138 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Raymond James in the fourth quarter worth $105,701,000. Franklin Resources Inc. increased its stake in Raymond James by 1.6% during the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Raymond James during the fourth quarter worth $511,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Raymond James in the 4th quarter worth about $21,334,000. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RJF. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Trading Up 0.5 %

Shares of Raymond James stock opened at $145.73 on Wednesday. The business has a fifty day simple moving average of $156.35 and a 200-day simple moving average of $150.12. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm has a market cap of $29.86 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

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

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.37%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

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.