HighTower Advisors LLC Purchases 546 Shares of Raymond James (NYSE:RJF)

HighTower Advisors LLC grew its position in Raymond James (NYSE:RJF) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,843 shares of the financial services provider’s stock after purchasing an additional 546 shares during the period. HighTower Advisors LLC’s holdings in Raymond James were worth $2,771,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RJF. Y.D. More Investments Ltd increased its position in shares of 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 acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd increased its position 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 last quarter. Quarry LP increased its position in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares during the last quarter. Eastern Bank acquired a new stake in shares of Raymond James in the fourth quarter valued at about $68,000. Finally, Assetmark Inc. increased its position in shares of Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 138 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Trading Down 0.3 %

Shares of RJF stock opened at $141.35 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market cap of $28.96 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The stock has a 50 day simple moving average of $156.76 and a 200 day simple moving average of $149.29. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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%. On average, research analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced 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. This represents a $2.00 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s payout ratio is presently 19.51%.

Analyst Ratings Changes

A number of equities analysts have weighed in on RJF shares. JMP Securities boosted their price target on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup boosted their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target of $167.55.

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.