Quantessence Capital LLC Acquires New Position in Raymond James (NYSE:RJF)

Quantessence Capital LLC bought a new position in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,807 shares of the financial services provider’s stock, valued at approximately $436,000.

A number of other hedge funds also recently added to or reduced their stakes in RJF. TCTC Holdings LLC grew its stake in 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 acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of 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 purchasing an additional 217 shares during the last quarter. Covestor Ltd raised its position in shares of Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new stake in Raymond James in the 4th quarter valued at approximately $53,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Trading Up 3.0 %

RJF stock opened at $134.77 on Wednesday. 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 company has a market cap of $27.62 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.90 and a beta of 0.94. The business has a fifty day simple moving average of $141.83 and a 200-day simple moving average of $151.62. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping 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, equities research analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.48%. Raymond James’s dividend payout ratio is currently 19.51%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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. The Goldman Sachs Group cut their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company cut their price objective on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Nine 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $160.27.

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.