Taika Capital LP Takes Position in Raymond James (NYSE:RJF)

Taika Capital LP purchased a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,320 shares of the financial services provider’s stock, valued at approximately $360,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Raymond James in the 4th quarter valued at $105,701,000. Franklin Resources Inc. lifted its stake in shares of Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Raymond James in the 4th quarter valued at $511,000. Banque Cantonale Vaudoise acquired a new stake in shares of Raymond James in the 3rd quarter valued at $3,561,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after purchasing an additional 7,028 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Down 0.3 %

Shares of RJF opened at $143.35 on Monday. The company has a 50-day simple moving average of $159.80 and a 200-day simple moving average of $148.06. The firm has a market capitalization of $29.37 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

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, beating 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, equities research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid 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 1.40%. Raymond James’s payout ratio is currently 19.51%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RJF shares. JPMorgan Chase & Co. lifted their price objective on shares of 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 lifted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. JMP Securities boosted their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Citigroup boosted their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $167.55.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.