Raymond James (NYSE:RJF) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC decreased its position in Raymond James (NYSE:RJF) by 41.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 425,761 shares of the financial services provider’s stock after selling 296,632 shares during the period. Raymond James comprises approximately 1.3% of Ceredex Value Advisors LLC’s portfolio, making the stock its 17th biggest holding. Ceredex Value Advisors LLC’s holdings in Raymond James were worth $66,133,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RJF. TCTC Holdings LLC grew its stake in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of 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 valued at $36,000 after purchasing an additional 127 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the last quarter. Covestor Ltd increased its stake in shares of Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in shares of Raymond James during the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $136.24 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a 50 day moving average price of $144.81 and a 200 day moving average price of $151.31.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.50 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.47%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RJF. Keefe, Bruyette & Woods raised their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley upped their target price on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Citigroup decreased their price target on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. JMP Securities cut their price objective on shares of Raymond James from $190.00 to $175.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Nine 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $160.27.

Raymond James 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.