Charles Schwab Investment Management Inc. Has $167.47 Million Stock Holdings in Raymond James (NYSE:RJF)

Charles Schwab Investment Management Inc. increased its position in shares of Raymond James (NYSE:RJF) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,078,166 shares of the financial services provider’s stock after purchasing an additional 13,817 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Raymond James were worth $167,472,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its holdings in shares of Raymond James by 121.0% in 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 in the last quarter. Plato Investment Management Ltd increased its holdings in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of Raymond James in the third quarter worth about $34,000. Peterson Financial Group Inc. bought a new stake in shares of Raymond James in the third quarter worth about $37,000. Finally, Quarry LP increased its holdings in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of several recent analyst reports. 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. JPMorgan Chase & Co. increased their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. JMP Securities increased their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Bank of America increased their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $167.55.

Raymond James Stock Performance

RJF opened at $143.35 on Friday. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.90 and a beta of 1.04. The business has a 50 day moving average of $160.07 and a 200-day moving average of $147.42. 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 released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping 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%. On average, equities research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.40%. Raymond James’s payout ratio is currently 19.51%.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Raymond James Company 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.