Congress Wealth Management LLC DE Lowers Stock Position in Raymond James (NYSE:RJF)

Congress Wealth Management LLC DE cut its stake in shares of Raymond James (NYSE:RJF) by 2.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 116,208 shares of the financial services provider’s stock after selling 2,783 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Raymond James were worth $18,051,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in RJF. TCTC Holdings LLC grew its stake in shares of Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after buying an additional 106 shares during the period. Y.D. More Investments Ltd grew its stake in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Plato Investment Management Ltd grew its stake in shares of Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 217 shares during the period. Quarry LP grew its stake in shares of Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Raymond James during the 4th quarter valued at $68,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RJF. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company upped their price target on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Morgan Stanley upped 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 report on Tuesday, March 4th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, Bank of America upped their price target on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $167.55.

Raymond James Stock Performance

Shares of RJF stock opened at $141.35 on Monday. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a market capitalization of $28.96 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.90 and a beta of 1.04. The company’s fifty day moving average price is $156.76 and its two-hundred day moving average price is $149.72.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, research analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed 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 of this dividend 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 is currently 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.