Raymond James (NYSE:RJF) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC decreased its stake in Raymond James (NYSE:RJF) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,419 shares of the financial services provider’s stock after selling 1,675 shares during the period. Meridian Wealth Advisors LLC’s holdings in Raymond James were worth $1,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RJF. Assetmark Inc. increased its position in Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 138 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Raymond James in the 4th quarter valued at approximately $105,701,000. Franklin Resources Inc. increased its holdings in shares of Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James during the fourth quarter worth approximately $511,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Raymond James during the fourth quarter worth $21,334,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Trading Down 0.3 %

Raymond James stock opened at $141.35 on Friday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The firm has a market capitalization of $28.96 billion, a PE ratio of 13.79, a PEG ratio of 0.90 and a beta of 1.04. The business’s 50-day simple moving average is $156.76 and its 200-day simple moving average is $149.50. 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 announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. 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 1.41%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Analysts Set New Price Targets

Several analysts recently commented on RJF shares. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley raised their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $167.55.

Raymond James 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.