Westpac Banking Corp Sells 363 Shares of Raymond James (NYSE:RJF)

Westpac Banking Corp lowered its stake in Raymond James (NYSE:RJF) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,814 shares of the financial services provider’s stock after selling 363 shares during the quarter. Westpac Banking Corp’s holdings in Raymond James were worth $437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after buying an additional 2,898,242 shares during the period. Norges Bank acquired a new stake in shares of Raymond James in the 4th quarter valued at approximately $294,647,000. Raymond James Financial Inc. bought a new position in Raymond James during the 4th quarter worth approximately $105,701,000. JPMorgan Chase & Co. grew its holdings in Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Raymond James by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock valued at $88,144,000 after purchasing an additional 461,069 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Trading Down 5.2 %

NYSE:RJF opened at $123.51 on Friday. The company has a market cap of $25.31 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The business has a 50 day moving average price of $151.43 and a two-hundred day moving average price of $150.78. 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 earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping 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%. As a group, analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RJF shares. Wells Fargo & Company lifted their price target 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. Bank of America lifted their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JMP Securities lifted their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group lowered their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $164.64.

Raymond James Company 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.