Virtu Financial LLC Buys 1,584 Shares of Raymond James (NYSE:RJF)

Virtu Financial LLC increased its stake in shares of Raymond James (NYSE:RJF) by 63.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,098 shares of the financial services provider’s stock after purchasing an additional 1,584 shares during the period. Virtu Financial LLC’s holdings in Raymond James were worth $636,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. Raymond James Financial Inc. bought a new position in Raymond James during the fourth quarter valued at approximately $105,701,000. JPMorgan Chase & Co. grew its holdings in Raymond James by 12.0% during 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 buying an additional 488,245 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Raymond James by 433.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock worth $88,144,000 after acquiring an additional 461,069 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of Raymond James during the 3rd quarter worth approximately $34,105,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Price Performance

RJF opened at $145.03 on Tuesday. The business has a fifty day moving average of $156.57 and a 200 day moving average of $149.91. The stock has a market cap of $29.72 billion, a P/E ratio of 14.15, a PEG ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating 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, sell-side analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 1.38%. 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

A number of research analysts recently weighed in on the stock. JMP Securities raised their target price 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. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company upped their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Bank of America lifted their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Nine investment 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.