Westpac Banking Corp Has $437,000 Stake in Raymond James (NYSE:RJF)

Westpac Banking Corp lowered its position in Raymond James (NYSE:RJF) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,814 shares of the financial services provider’s stock after selling 363 shares during the quarter. Westpac Banking Corp’s holdings in Raymond James were worth $437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TCTC Holdings LLC raised its holdings in shares of Raymond James by 176.7% in the 4th 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 period. Y.D. More Investments Ltd increased its position in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its stake in Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 217 shares during the period. Quarry LP lifted its position in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Raymond James during the 4th quarter worth approximately $68,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RJF shares. Citigroup dropped their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Bank of America increased their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley boosted their price objective on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $164.64.

Raymond James Trading Down 5.2 %

Shares of RJF stock opened at $123.51 on Friday. The stock has a market cap of $25.31 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $151.43 and a 200 day simple moving average of $150.78.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, research analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. 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 1.62%. Raymond James’s payout ratio is 19.51%.

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.