Signature Wealth Management Group Sells 193 Shares of Raymond James (NYSE:RJF)

Signature Wealth Management Group trimmed its stake in Raymond James (NYSE:RJF) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,445 shares of the financial services provider’s stock after selling 193 shares during the period. Signature Wealth Management Group’s holdings in Raymond James were worth $846,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in shares of Raymond James in the third quarter worth approximately $34,000. Y.D. More Investments Ltd grew its position in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Raymond James during the third quarter valued at approximately $37,000. Plato Investment Management Ltd grew its position in Raymond James by 1,142.1% during the fourth 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 during the last quarter. Finally, Quarry LP grew its position in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Stock Performance

Shares of RJF stock opened at $142.64 on Friday. The stock has a fifty day moving average of $158.23 and a 200 day moving average of $148.64. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The firm has a market capitalization of $29.23 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last announced its quarterly earnings results 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%. As a group, research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RJF. Keefe, Bruyette & Woods increased 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. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, Citigroup increased their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, 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.