Envestnet Portfolio Solutions Inc. Sells 69 Shares of Raymond James (NYSE:RJF)

Envestnet Portfolio Solutions Inc. decreased its holdings in Raymond James (NYSE:RJF) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 23,368 shares of the financial services provider’s stock after selling 69 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Raymond James were worth $3,630,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its holdings in Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 64 shares during the last quarter. CX Institutional raised its position in shares of Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 66 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Raymond James by 3.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 67 shares during the period. Stablepoint Partners LLC boosted its position in shares of Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after purchasing an additional 73 shares during the last quarter. Finally, Keybank National Association OH grew its stake in shares of Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock worth $1,747,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the topic of a number of recent analyst reports. Citigroup raised their target price on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Bank of America upped their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JMP Securities lifted their price target 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. Finally, UBS Group upgraded 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $167.55.

Raymond James Price Performance

RJF stock opened at $146.44 on Thursday. The stock has a market cap of $30.01 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The stock has a 50-day moving average price of $157.37 and a two-hundred day moving average price of $149.19. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. 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 (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) 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%. Equities analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is presently 19.51%.

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.