KLP Kapitalforvaltning AS Buys Shares of 67,678 Raymond James (NYSE:RJF)

KLP Kapitalforvaltning AS acquired a new stake in shares of Raymond James (NYSE:RJF) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 67,678 shares of the financial services provider’s stock, valued at approximately $10,512,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Coldstream Capital Management Inc. grew its holdings in Raymond James by 1.5% during the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 64 shares during the period. CX Institutional grew its stake in Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 66 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings in shares of Raymond James by 3.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 67 shares during the last quarter. Stablepoint Partners LLC increased its stake in Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 73 shares during the last quarter. Finally, Keybank National Association OH raised its stake in Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock valued at $1,747,000 after purchasing an additional 76 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

NYSE RJF opened at $145.03 on Tuesday. The firm’s fifty day simple moving average is $156.57 and its two-hundred day simple moving average is $149.91. The firm has a market capitalization of $29.72 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last announced 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%. Analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.50 dividend. 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 payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

RJF has been the topic of several recent research reports. JMP Securities increased their price target on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Citigroup upped their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley upped their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company lifted their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $167.55.

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.