Raymond James (NYSE:RJF) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its position in shares of Raymond James (NYSE:RJF) by 20.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 347,404 shares of the financial services provider’s stock after purchasing an additional 58,721 shares during the quarter. Prudential Financial Inc.’s holdings in Raymond James were worth $53,962,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC boosted its position in shares of Raymond James by 176.7% in the 4th 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 during the period. Y.D. More Investments Ltd lifted its stake in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares during the period. Quarry LP grew its position in shares of Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Raymond James in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Up 2.8 %

Shares of NYSE RJF opened at $145.03 on Tuesday. The company has a market cap of $29.72 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.90 and a beta of 1.04. 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 stock has a fifty day moving average price of $156.57 and a 200 day moving average price of $149.91.

Raymond James (NYSE:RJF) last issued its quarterly earnings data 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 net margin of 14.06% and a return on equity of 19.71%. Research analysts anticipate that Raymond James will post 11.17 EPS 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. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.38%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Wall Street Analyst Weigh In

RJF has been the subject of a number of recent research reports. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. boosted their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised 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. JMP Securities upped their price target on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Finally, Morgan Stanley increased their price objective on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.