Nemes Rush Group LLC Acquires 2,839 Shares of Raymond James (NYSE:RJF)

Nemes Rush Group LLC boosted its position in Raymond James (NYSE:RJF) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,487 shares of the financial services provider’s stock after purchasing an additional 2,839 shares during the period. Raymond James accounts for about 1.3% of Nemes Rush Group LLC’s portfolio, making the stock its 27th biggest holding. Nemes Rush Group LLC’s holdings in Raymond James were worth $10,483,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in shares of Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 138 shares during the period. Raymond James Financial Inc. purchased a new position in Raymond James during the fourth quarter worth about $105,701,000. Franklin Resources Inc. grew its position 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 buying an additional 9,217 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James during the 4th quarter valued at approximately $511,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Raymond James in the fourth quarter valued at $21,334,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. 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 research report on Monday, January 6th. Morgan Stanley boosted their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Citigroup raised their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Bank of America raised their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped 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. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Trading Down 0.2 %

NYSE:RJF opened at $138.72 on Tuesday. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $154.44 and a 200-day moving average price of $150.82. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping 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%. Equities analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

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.