Schroder Investment Management Group Reduces Stake in Raymond James (NYSE:RJF)

Schroder Investment Management Group trimmed its holdings in Raymond James (NYSE:RJF) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 256,791 shares of the financial services provider’s stock after selling 20,218 shares during the quarter. Schroder Investment Management Group’s holdings in Raymond James were worth $39,887,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RJF. Wellington Management Group LLP lifted its position 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 worth $1,483,542,000 after buying an additional 2,898,242 shares during the last quarter. State Street Corp lifted its position in Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Raymond James by 0.3% during the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after purchasing an additional 12,869 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Raymond James during the fourth quarter worth about $294,647,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Down 0.7 %

Shares of NYSE:RJF opened at $137.94 on Wednesday. The company has a market cap of $28.27 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm’s 50-day simple moving average is $153.80 and its 200-day simple moving average is $150.96. 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 (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) 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, equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Wall Street Analyst Weigh In

RJF has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Wells Fargo & Company boosted their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Citigroup raised their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. JMP Securities increased their price target on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Finally, UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Nine equities research 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, Raymond James presently has an average rating of “Hold” and an average price target 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.