iA Global Asset Management Inc. Buys 5,300 Shares of Raymond James (NYSE:RJF)

iA Global Asset Management Inc. grew its stake in Raymond James (NYSE:RJF) by 187.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,132 shares of the financial services provider’s stock after acquiring an additional 5,300 shares during the quarter. iA Global Asset Management Inc.’s holdings in Raymond James were worth $1,263,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its holdings in Raymond James by 630.2% in the fourth quarter. Teacher Retirement System of Texas now owns 206,545 shares of the financial services provider’s stock worth $32,083,000 after acquiring an additional 178,259 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Raymond James in the fourth quarter worth $641,000. Vinva Investment Management Ltd boosted its holdings in Raymond James by 8.6% in the fourth quarter. Vinva Investment Management Ltd now owns 9,736 shares of the financial services provider’s stock worth $1,512,000 after acquiring an additional 768 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Raymond James in the fourth quarter worth $3,147,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Raymond James by 20.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,396 shares of the financial services provider’s stock worth $6,430,000 after acquiring an additional 6,985 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

RJF has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Stock Down 0.3 %

Raymond James stock opened at $141.35 on Friday. The stock has a market cap of $28.96 billion, a PE ratio of 13.79, a price-to-earnings-growth 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 one year low of $104.24 and a one year high of $174.32. The stock has a fifty day moving average of $156.76 and a 200 day moving average of $149.29.

Raymond James (NYSE:RJF) last released 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%. As a group, sell-side analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is 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.