New Age Alpha Advisors LLC Takes $1.66 Million Position in Raymond James (NYSE:RJF)

New Age Alpha Advisors LLC acquired a new position in shares of Raymond James (NYSE:RJF) during the fourth quarter, HoldingsChannel reports. The fund acquired 10,671 shares of the financial services provider’s stock, valued at approximately $1,658,000.

A number of other institutional investors and hedge funds have also modified their holdings of RJF. Norges Bank purchased a new stake in Raymond James during the 4th quarter worth about $294,647,000. NEOS Investment Management LLC increased its position in Raymond James by 30.7% during the fourth quarter. NEOS Investment Management LLC now owns 10,601 shares of the financial services provider’s stock worth $1,641,000 after purchasing an additional 2,488 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of Raymond James by 5.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 18,460 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 965 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in shares of Raymond James by 19.3% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 20,881 shares of the financial services provider’s stock worth $3,243,000 after purchasing an additional 3,376 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Raymond James by 9.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 291,192 shares of the financial services provider’s stock valued at $45,927,000 after buying an additional 24,494 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. JMP Securities increased their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Finally, Bank of America raised their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Trading Down 2.6 %

Shares of NYSE RJF opened at $138.97 on Monday. The company has a 50-day moving average of $155.00 and a two-hundred day moving average of $150.67. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a market cap of $28.48 billion, a PE ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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%. As a group, equities analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued 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 dividend yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is currently 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.