Raymond James (NYSE:RJF) Shares Bought by HUB Investment Partners LLC

HUB Investment Partners LLC boosted its stake in shares of Raymond James (NYSE:RJF) by 99.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,186 shares of the financial services provider’s stock after buying an additional 7,087 shares during the period. HUB Investment Partners LLC’s holdings in Raymond James were worth $2,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 138 shares during the period. Raymond James Financial Inc. purchased a new stake in Raymond James in the fourth quarter valued at $105,701,000. Franklin Resources Inc. raised its position in Raymond James by 1.6% in the third 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 period. J.W. Cole Advisors Inc. purchased a new stake in Raymond James in the fourth quarter valued at $511,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Raymond James in the 4th quarter valued at $21,334,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RJF shares. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America boosted their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. 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. Finally, 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. Nine 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. According to MarketBeat, Raymond James presently has an average rating of “Hold” and a consensus price target of $167.55.

Raymond James Price Performance

Shares of NYSE RJF opened at $141.64 on Friday. The stock’s 50-day moving average is $157.02 and its two-hundred day moving average is $149.14. 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 has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a market cap of $29.02 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last released 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%. Analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. 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 is currently 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.