Eldridge Investment Advisors Inc. Invests $243,000 in Raymond James (NYSE:RJF)

Eldridge Investment Advisors Inc. acquired a new position in shares of Raymond James (NYSE:RJF) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,563 shares of the financial services provider’s stock, valued at approximately $243,000.

Other large investors also recently modified their holdings of the company. Assetmark Inc. grew its position in shares of Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after buying an additional 138 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $105,701,000. Franklin Resources Inc. grew its position in shares of Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after buying an additional 9,217 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $511,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Raymond James during the 3rd quarter worth approximately $3,561,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of NYSE:RJF opened at $142.64 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $158.23 and its two-hundred day simple moving average is $148.64. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The stock has a market cap of $29.23 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating 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%. As a group, analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Analysts Set New Price Targets

Several analysts recently issued reports on RJF shares. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Raymond James has an average rating of “Hold” and an average target price of $167.55.

About Raymond James

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.