Cullen Capital Management LLC Purchases 1,936 Shares of Raymond James (NYSE:RJF)

Cullen Capital Management LLC raised its position in Raymond James (NYSE:RJF) by 19.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,047 shares of the financial services provider’s stock after buying an additional 1,936 shares during the quarter. Cullen Capital Management LLC’s holdings in Raymond James were worth $1,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RJF. State Street Corp increased its stake in Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Raymond James by 12.0% in the 3rd 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 last quarter. Geode Capital Management LLC raised its holdings in shares of Raymond James by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after buying an additional 40,576 shares in the last quarter. Norges Bank bought a new stake in shares of Raymond James during the 4th quarter worth $294,647,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Raymond James by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider’s stock valued at $167,472,000 after buying an additional 13,817 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a report on Thursday. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Morgan Stanley increased their target price on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $164.64.

Raymond James Price Performance

Raymond James stock opened at $123.51 on Friday. The stock’s 50 day moving average is $151.43 and its 200 day moving average is $150.99. Raymond James has a one year low of $104.24 and a one year high of $174.32. The firm has a market cap of $25.31 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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%. As a group, research analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

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

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.