Royal London Asset Management Ltd. Has $19.89 Million Position in Raymond James (NYSE:RJF)

Royal London Asset Management Ltd. lowered its holdings in Raymond James (NYSE:RJF) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 128,073 shares of the financial services provider’s stock after selling 1,253 shares during the quarter. Royal London Asset Management Ltd. owned about 0.06% of Raymond James worth $19,894,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of RJF. Wellington Management Group LLP boosted its stake 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 worth $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Raymond James in the fourth quarter worth $105,701,000. JPMorgan Chase & Co. lifted its stake in shares of Raymond James by 12.0% during 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 acquiring an additional 488,245 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Raymond James by 433.4% during 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 acquiring an additional 461,069 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in shares of Raymond James during the third quarter valued at $34,105,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Down 0.3 %

Shares of Raymond James stock opened at $141.35 on Friday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The business has a 50-day moving average of $156.76 and a two-hundred day moving average of $149.29. The company has a market capitalization of $28.96 billion, a P/E 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 current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last announced its quarterly earnings results 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%. As a group, equities analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Analyst Ratings Changes

RJF has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup upped their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $167.55.

About Raymond James

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.