Vinva Investment Management Ltd Increases Position in Raymond James (NYSE:RJF)

Vinva Investment Management Ltd lifted its holdings in shares of Raymond James (NYSE:RJF) by 8.6% during the fourth quarter, Holdings Channel reports. The fund owned 9,736 shares of the financial services provider’s stock after purchasing an additional 768 shares during the quarter. Vinva Investment Management Ltd’s holdings in Raymond James were worth $1,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Wellington Management Group LLP increased its holdings in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after buying an additional 2,898,242 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Raymond James in the fourth quarter valued at about $105,701,000. JPMorgan Chase & Co. increased its holdings in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after buying an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Raymond James by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock valued at $88,144,000 after buying an additional 461,069 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in Raymond James in the third quarter valued at about $34,105,000. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on RJF shares. JMP Securities boosted their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the company from $161.00 to $185.00 in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $167.55.

Raymond James Stock Performance

Shares of NYSE RJF opened at $141.64 on Friday. 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 stock has a 50 day simple moving average of $157.02 and a 200-day simple moving average of $149.14. The company has a market cap of $29.02 billion, a PE ratio of 13.82, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) 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 forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced 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 is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.41%. Raymond James’s dividend payout ratio (DPR) is 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.