Fisher Asset Management LLC Increases Holdings in Raymond James (NYSE:RJF)

Fisher Asset Management LLC boosted its holdings in shares of Raymond James (NYSE:RJF) by 11.2% during the fourth quarter, Holdings Channel reports. The firm owned 498,925 shares of the financial services provider’s stock after acquiring an additional 50,449 shares during the quarter. Fisher Asset Management LLC’s holdings in Raymond James were worth $77,498,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its holdings in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the period. Gladius Capital Management LP purchased a new position in shares of Raymond James during the 3rd quarter worth approximately $34,000. Peterson Financial Group Inc. purchased a new position in shares of Raymond James during the 3rd quarter worth approximately $37,000. Quarry LP grew its holdings in shares of Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the period. Finally, Eastern Bank purchased a new position in shares of Raymond James during the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 1.9 %

Shares of RJF stock opened at $154.61 on Friday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm has a market capitalization of $31.68 billion, a PE ratio of 15.08, a PEG ratio of 0.90 and a beta of 1.03. The stock has a fifty day simple moving average of $160.97 and a two-hundred day simple moving average of $146.79.

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, beating 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, analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

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 dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. Raymond James’s payout ratio is 19.51%.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,451 shares of company stock worth $10,531,255 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup upped their target price on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Bank of America upped their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company upped 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. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average price target of $166.09.

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.