Allstate Corp Acquires Shares of 5,728 Raymond James (NYSE:RJF)

Allstate Corp bought a new stake in shares of Raymond James (NYSE:RJF) in the 4th quarter, Holdings Channel reports. The institutional investor bought 5,728 shares of the financial services provider’s stock, valued at approximately $890,000.

Other large investors also recently made changes to their positions in the company. TCTC Holdings LLC increased its holdings in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd increased its stake in shares of Raymond James by 121.0% in the 4th 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 raised its position in shares of Raymond James by 1,142.1% in the 4th 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 period. Quarry LP boosted its stake in Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the last quarter. Finally, Eastern Bank acquired a new position in Raymond James during the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Bank of America boosted their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised 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. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $167.55.

Raymond James Price Performance

Shares of NYSE RJF opened at $138.72 on Tuesday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The stock has a market capitalization of $28.42 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The business has a 50-day moving average of $154.44 and a 200-day moving average of $150.82.

Raymond James (NYSE:RJF) last posted its quarterly 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%. As a group, sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

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

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.