Daiwa Securities Group Inc. Has $3.89 Million Holdings in Raymond James (NYSE:RJF)

Daiwa Securities Group Inc. lifted its position in shares of Raymond James (NYSE:RJF) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,028 shares of the financial services provider’s stock after buying an additional 1,478 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Raymond James were worth $3,888,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RJF. Atria Investments Inc grew its holdings in Raymond James by 3.5% in the third quarter. Atria Investments Inc now owns 31,482 shares of the financial services provider’s stock worth $3,855,000 after purchasing an additional 1,057 shares during the period. Versor Investments LP acquired a new stake in Raymond James in the third quarter worth $918,000. Apollon Wealth Management LLC grew its holdings in Raymond James by 9.6% in the third quarter. Apollon Wealth Management LLC now owns 15,781 shares of the financial services provider’s stock worth $1,933,000 after purchasing an additional 1,380 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after purchasing an additional 7,028 shares during the period. Finally, Cumberland Partners Ltd grew its holdings in Raymond James by 24.7% in the third quarter. Cumberland Partners Ltd now owns 9,100 shares of the financial services provider’s stock worth $1,114,000 after purchasing an additional 1,800 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JMP Securities raised their price target on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Bank of America raised their price objective on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods raised their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Stock Up 1.1 %

RJF opened at $141.18 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The company’s 50-day moving average is $158.85 and its 200 day moving average is $148.32. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm has a market capitalization of $28.93 billion, a P/E ratio of 13.77, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last announced its quarterly earnings data 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%. Research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is 19.51%.

Insiders Place Their Bets

In other news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

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.