Millstone Evans Group LLC Purchases New Position in Raymond James (NYSE:RJF)

Millstone Evans Group LLC acquired a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,861 shares of the financial services provider’s stock, valued at approximately $3,085,000. Raymond James makes up about 2.1% of Millstone Evans Group LLC’s portfolio, making the stock its 7th biggest position.

Several other hedge funds also recently modified their holdings of the business. HUB Investment Partners LLC increased its holdings in shares of Raymond James by 99.8% during the 4th quarter. HUB Investment Partners LLC now owns 14,186 shares of the financial services provider’s stock valued at $2,204,000 after acquiring an additional 7,087 shares during the last quarter. iA Global Asset Management Inc. boosted its position in Raymond James by 187.1% during the fourth quarter. iA Global Asset Management Inc. now owns 8,132 shares of the financial services provider’s stock worth $1,263,000 after purchasing an additional 5,300 shares during the period. Teacher Retirement System of Texas grew its holdings in Raymond James by 630.2% during the fourth quarter. Teacher Retirement System of Texas now owns 206,545 shares of the financial services provider’s stock valued at $32,083,000 after purchasing an additional 178,259 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Raymond James in the fourth quarter valued at approximately $641,000. Finally, Vinva Investment Management Ltd lifted its stake in shares of Raymond James by 8.6% in the fourth quarter. Vinva Investment Management Ltd now owns 9,736 shares of the financial services provider’s stock worth $1,512,000 after buying an additional 768 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent analyst reports. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Citigroup upped their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Morgan Stanley raised their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $167.55.

Raymond James Stock Down 0.3 %

Shares of RJF opened at $141.35 on Friday. 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 50-day moving average price of $156.76 and a two-hundred day moving average price of $149.29. The stock has a market cap of $28.96 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 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%. Equities analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 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.