Millstone Evans Group LLC Purchases New Shares in Raymond James (NYSE:RJF)

Millstone Evans Group LLC acquired a new position in Raymond James (NYSE:RJF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,861 shares of the financial services provider’s stock, valued at approximately $3,085,000. Raymond James makes up about 2.1% of Millstone Evans Group LLC’s investment portfolio, making the stock its 7th biggest position.

Other large investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. raised its position in Raymond James by 1.5% in 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 fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $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% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 67 shares during the period. Stablepoint Partners LLC boosted its holdings in Raymond James by 0.5% in the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after acquiring an additional 73 shares during the last quarter. Finally, Keybank National Association OH increased its position in Raymond James by 0.7% in 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 own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of RJF opened at $141.35 on Friday. The stock has a 50 day simple moving average of $156.76 and a 200 day simple moving average of $149.29. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. 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 $28.96 billion, a PE ratio of 13.79, a P/E/G ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last released its quarterly earnings results 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 net margin of 14.06% and a return on equity of 19.71%. Sell-side analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is 19.51%.

Analyst Upgrades and Downgrades

RJF has been the subject of several analyst reports. 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. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Nine 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $167.55.

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.