Wellington Management Group LLP Lowers Stake in Raymond James (NYSE:RJF)

Wellington Management Group LLP cut its stake in Raymond James (NYSE:RJF) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,328,261 shares of the financial services provider’s stock after selling 1,786,241 shares during the period. Wellington Management Group LLP owned about 0.05% of Raymond James worth $1,604,289,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RJF. Assetmark Inc. grew its stake in Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Raymond James during the 4th quarter worth $105,701,000. Franklin Resources Inc. grew its position in shares of Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after buying an additional 9,217 shares in the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Raymond James in the fourth quarter valued at about $511,000. Finally, Proficio Capital Partners LLC purchased a new stake in Raymond James in the fourth quarter worth about $21,334,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

RJF opened at $138.97 on Monday. The company has a market cap of $28.48 billion, a P/E ratio of 13.56, a price-to-earnings-growth 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. The firm’s 50-day moving average price is $155.00 and its 200-day moving average price is $150.67. 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 quarterly 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, equities analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of research reports. 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 research report on Thursday, January 30th. Citigroup boosted their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their price target on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company upped their price objective on Raymond James from $168.00 to $176.00 and gave the stock 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. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average target price 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.