Covestor Ltd Boosts Position in Raymond James (NYSE:RJF)

Covestor Ltd increased its holdings in Raymond James (NYSE:RJF) by 56.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337 shares of the financial services provider’s stock after acquiring an additional 122 shares during the quarter. Covestor Ltd’s holdings in Raymond James were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in RJF. FMR LLC boosted its stake in shares of Raymond James by 2.2% during the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock valued at $1,013,066,000 after purchasing an additional 137,277 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Raymond James by 12.0% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Raymond James by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after acquiring an additional 40,576 shares during the period. Invesco Ltd. raised its position in shares of Raymond James by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock worth $378,276,000 after acquiring an additional 192,904 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Raymond James in the 4th quarter valued at approximately $294,647,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America upped their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report 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. Wells Fargo & Company dropped their price objective on Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup decreased their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average target price of $160.27.

Raymond James Trading Down 0.2 %

NYSE:RJF opened at $135.08 on Tuesday. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. 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 business has a fifty day moving average price of $145.46 and a 200-day moving average price of $151.42. Raymond James has a one year low of $104.24 and a one year high of $174.32.

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

Raymond James Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. Raymond James’s 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.