Heartland Advisors Inc. Buys Shares of 36,991 Raymond James (NYSE:RJF)

Heartland Advisors Inc. purchased a new position in shares of Raymond James (NYSE:RJF) in the 4th quarter, Holdings Channel reports. The firm purchased 36,991 shares of the financial services provider’s stock, valued at approximately $5,746,000.

A number of other large investors also recently modified their holdings of RJF. TCTC Holdings LLC increased its holdings in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd increased its stake 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 buying an additional 127 shares during the period. Plato Investment Management Ltd boosted its position in Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after buying an additional 217 shares during the period. Quarry LP grew its holdings 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 in the 4th quarter valued at approximately $68,000. 83.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RJF shares. Citigroup lifted their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. JMP Securities lifted their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $167.55.

Raymond James Trading Down 2.6 %

NYSE:RJF opened at $138.97 on Friday. Raymond James has a 12 month low of $104.24 and a 12 month 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 market capitalization of $28.48 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04. The firm has a fifty day simple moving average of $155.00 and a two-hundred day simple moving average of $150.19.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS 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%. Analysts expect 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date 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.