Wellington Management Group LLP Trims Stock Holdings in Raymond James (NYSE:RJF)

Wellington Management Group LLP reduced its stake in shares of Raymond James (NYSE:RJF) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,328,261 shares of the financial services provider’s stock after selling 1,786,241 shares during the period. Wellington Management Group LLP owned 5.04% of Raymond James worth $1,604,289,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC lifted its holdings in Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of Raymond James by 121.0% during the 4th 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 during the period. Plato Investment Management Ltd lifted its stake in shares of Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 217 shares in the last quarter. Quarry LP boosted its holdings in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares during the period. Finally, Eastern Bank purchased a new stake in Raymond James in the 4th quarter worth $68,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Trading Down 2.6 %

RJF opened at $138.97 on Monday. The stock has a 50-day moving average of $155.00 and a 200 day moving average of $150.67. 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 has a 12 month low of $104.24 and a 12 month high of $174.32. The firm has a market cap of $28.48 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last announced its 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 forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Analyst Ratings Changes

Several brokerages have recently commented on RJF. JPMorgan Chase & Co. boosted their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target 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. Citigroup lifted their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company 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.