JPMorgan Chase & Co. Sells 125,338 Shares of Raymond James (NYSE:RJF)

JPMorgan Chase & Co. lowered its stake in Raymond James (NYSE:RJF) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,419,272 shares of the financial services provider’s stock after selling 125,338 shares during the quarter. JPMorgan Chase & Co.’s holdings in Raymond James were worth $686,446,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RJF. TCTC Holdings LLC boosted 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 purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 127 shares during the period. Plato Investment Management Ltd boosted its position in 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 acquiring an additional 217 shares in the last quarter. Quarry LP boosted its position in 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 acquiring an additional 187 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Raymond James during the 4th quarter worth approximately $68,000. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RJF shares. Morgan Stanley upped their price target on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Bank of America increased their price target on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JMP Securities upped their price target on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Nine investment 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 company. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $167.55.

Raymond James Trading Down 2.6 %

NYSE:RJF opened at $138.97 on Friday. The company has a 50 day simple moving average of $155.00 and a two-hundred day simple moving average of $150.19. The company has a market cap of $28.48 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12 month low of $104.24 and a 12 month 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 return on equity of 19.71% and a net margin of 14.06%. Research analysts forecast that Raymond James will post 11.17 earnings per share 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 given a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.44%. Raymond James’s payout ratio is presently 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.