Fisher Asset Management LLC Grows Stock Position in Raymond James (NYSE:RJF)

Fisher Asset Management LLC boosted its position in Raymond James (NYSE:RJF) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 498,925 shares of the financial services provider’s stock after buying an additional 50,449 shares during the quarter. Fisher Asset Management LLC owned approximately 0.24% of Raymond James worth $77,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. SVB Wealth LLC purchased a new stake in Raymond James in the fourth quarter worth $254,000. Dynasty Wealth Management LLC increased its position in Raymond James by 9.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 1,923 shares of the financial services provider’s stock worth $299,000 after buying an additional 158 shares during the last quarter. Private Trust Co. NA increased its position in Raymond James by 23.9% in the fourth quarter. Private Trust Co. NA now owns 487 shares of the financial services provider’s stock worth $76,000 after buying an additional 94 shares during the last quarter. QRG Capital Management Inc. increased its position in Raymond James by 2.4% in the fourth quarter. QRG Capital Management Inc. now owns 12,513 shares of the financial services provider’s stock worth $1,944,000 after buying an additional 290 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Raymond James in the fourth quarter worth $21,334,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,451 shares of company stock valued at $10,531,255 over the last 90 days. Insiders own 0.54% of the company’s stock.

Raymond James Price Performance

NYSE:RJF opened at $154.61 on Friday. The firm has a market capitalization of $31.68 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 0.90 and a beta of 1.03. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The stock has a fifty day moving average of $160.97 and a 200 day moving average of $146.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last posted 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 return on equity of 19.71% and a net margin of 14.06%. On average, research analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RJF. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Citigroup lifted their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Bank of America lifted their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, JMP Securities lifted their price target on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three 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 presently has an average rating of “Hold” and a consensus target price of $166.09.

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.