137,344 Shares in Raymond James (NYSE:RJF) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in Raymond James (NYSE:RJF) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 137,344 shares of the financial services provider’s stock, valued at approximately $21,334,000.

Several other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the period. J.W. Cole Advisors Inc. purchased a new position in Raymond James in the 4th quarter valued at approximately $511,000. Banque Cantonale Vaudoise bought a new stake in Raymond James during the 3rd quarter valued at $3,561,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Raymond James by 1.5% during 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 acquiring an additional 7,028 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Raymond James by 7,238.7% in the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after acquiring an additional 44,735 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup increased their price objective on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Bank of America boosted their price target 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. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Stock Performance

NYSE RJF opened at $142.64 on Friday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a fifty day moving average of $158.23 and a 200-day moving average of $148.43. The company has a market capitalization of $29.23 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

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 the consensus estimate 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, equities research analysts predict that Raymond James will post 11.17 EPS for the current fiscal 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio 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.