Clearbridge Investments LLC Purchases 1,468 Shares of Raymond James (NYSE:RJF)

Clearbridge Investments LLC increased its position in shares of Raymond James (NYSE:RJF) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,599 shares of the financial services provider’s stock after purchasing an additional 1,468 shares during the period. Clearbridge Investments LLC owned approximately 0.12% of Raymond James worth $37,062,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RJF. Assetmark Inc. lifted its position in shares of Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Raymond James during the 4th quarter valued at about $105,701,000. Franklin Resources Inc. boosted its position in Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after buying an additional 9,217 shares during the period. J.W. Cole Advisors Inc. bought a new position in Raymond James in the 4th quarter worth about $511,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Raymond James during the fourth quarter worth approximately $21,334,000. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased 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. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America raised their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus target price of $167.55.

Raymond James Trading Down 0.7 %

NYSE:RJF opened at $137.94 on Wednesday. The firm has a 50 day moving average of $153.80 and a 200 day moving average of $150.96. 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 has a 52 week low of $104.24 and a 52 week high of $174.32. The stock has a market capitalization of $28.27 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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, sell-side analysts anticipate that Raymond James will post 11.17 earnings per share 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 dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. Raymond James’s dividend payout ratio (DPR) is currently 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.