NEOS Investment Management LLC Increases Stock Position in Raymond James (NYSE:RJF)

NEOS Investment Management LLC grew its stake in Raymond James (NYSE:RJF) by 30.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,601 shares of the financial services provider’s stock after acquiring an additional 2,488 shares during the period. NEOS Investment Management LLC’s holdings in Raymond James were worth $1,641,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in RJF. TCTC Holdings LLC boosted its holdings in Raymond James by 176.7% during 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 period. Y.D. More Investments Ltd boosted 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 purchasing an additional 127 shares during the period. Plato Investment Management Ltd grew its holdings 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 in the last quarter. Quarry LP increased its stake 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 buying an additional 187 shares during the period. Finally, Eastern Bank acquired a new stake in Raymond James during the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 2.6 %

Shares of NYSE:RJF opened at $138.97 on Friday. The firm has a 50 day simple moving average of $155.00 and a 200-day simple moving average of $150.42. Raymond James has a twelve month low of $104.24 and a twelve 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 company has a market capitalization of $28.48 billion, a PE ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04.

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

Raymond James Dividend Announcement

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America upped their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Citigroup upped their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley lifted 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 note on Tuesday, March 4th. Nine research 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 MarketBeat.com, Raymond James has a consensus rating of “Hold” and a consensus target price 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.