one8zero8 LLC Takes $565,000 Position in Raymond James (NYSE:RJF)

one8zero8 LLC bought a new stake in Raymond James (NYSE:RJF) during the fourth quarter, HoldingsChannel.com reports. The fund bought 3,637 shares of the financial services provider’s stock, valued at approximately $565,000.

Several other hedge funds have also bought and sold shares of RJF. Victory Capital Management Inc. raised its stake in Raymond James by 0.3% in the third quarter. Victory Capital Management Inc. now owns 120,822 shares of the financial services provider’s stock valued at $14,796,000 after buying an additional 388 shares during the period. Metis Global Partners LLC lifted its holdings in Raymond James by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 82 shares during the last quarter. CIBC Asset Management Inc boosted its position in Raymond James by 7.2% during the third quarter. CIBC Asset Management Inc now owns 28,366 shares of the financial services provider’s stock worth $3,474,000 after purchasing an additional 1,908 shares during the period. Empirical Finance LLC increased its holdings in shares of Raymond James by 2.3% in the third quarter. Empirical Finance LLC now owns 6,293 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 141 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Raymond James by 7.9% in the third quarter. Empowered Funds LLC now owns 3,466 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 255 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Price Performance

RJF stock opened at $142.64 on Monday. The company’s 50-day moving average price is $158.23 and its two-hundred day moving average price is $148.86. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a market cap 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.

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, analysts anticipate 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is presently 19.51%.

Analysts Set New Price Targets

Several analysts recently commented on RJF shares. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. JMP Securities upped their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Bank of America upped their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Raymond James currently has an average rating of “Hold” and an average target price of $167.55.

Raymond James 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.