Gotham Asset Management LLC Buys 1,425 Shares of Raymond James (NYSE:RJF)

Gotham Asset Management LLC grew its stake in shares of Raymond James (NYSE:RJF) by 8.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 19,100 shares of the financial services provider’s stock after acquiring an additional 1,425 shares during the quarter. Gotham Asset Management LLC’s holdings in Raymond James were worth $2,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RJF. Norges Bank bought a new stake in shares of Raymond James during the 4th quarter valued at $294,647,000. Raymond James Financial Inc. bought a new position in Raymond James in the fourth quarter valued at approximately $105,701,000. JPMorgan Chase & Co. increased its stake in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Raymond James by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock valued at $88,144,000 after acquiring an additional 461,069 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Raymond James by 18.4% in the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after acquiring an additional 327,739 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $175.00 price objective on shares of Raymond James in a research note on Thursday, April 24th. Bank of America cut Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Citigroup lowered their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Cowen reissued a “hold” rating on shares of Raymond James in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted 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. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and a consensus price target of $153.82.

Raymond James Price Performance

Shares of RJF opened at $152.85 on Friday. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The business has a 50-day simple moving average of $139.00 and a two-hundred day simple moving average of $152.41. 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 stock has a market cap of $30.84 billion, a PE ratio of 14.91, a PEG ratio of 0.90 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company earned $2.31 EPS. Raymond James’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. Raymond James’s dividend payout ratio (DPR) is presently 19.25%.

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.