Silvercrest Asset Management Group LLC Grows Stock Holdings in Raymond James (NYSE:RJF)

Silvercrest Asset Management Group LLC grew its position in Raymond James (NYSE:RJF) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 412,071 shares of the financial services provider’s stock after acquiring an additional 2,725 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Raymond James were worth $64,007,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Raymond James in the fourth quarter valued at approximately $294,647,000. Raymond James Financial Inc. acquired a new stake in shares of Raymond James in the 4th quarter worth $105,701,000. JPMorgan Chase & Co. grew its stake in Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Raymond James by 433.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock worth $88,144,000 after buying an additional 461,069 shares during the last quarter. Finally, Northern Trust Corp increased its position in Raymond James by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after buying an additional 327,739 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RJF. Wells Fargo & Company lowered their price target on Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Bank of America cut shares of Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Cowen reissued a “hold” rating on shares of Raymond James in a research report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $153.82.

Raymond James Stock Up 0.4%

Shares of RJF opened at $152.85 on Friday. The company has a market capitalization of $30.84 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.90 and a beta of 1.02. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The stock’s 50-day moving average price is $139.00 and its 200-day moving average price is $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.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 EPS. On average, sell-side analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued 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 yield of 1.31%. Raymond James’s payout ratio is 19.25%.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider now directly owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.