Nemes Rush Group LLC Acquires 2,839 Shares of Raymond James (NYSE:RJF)

Nemes Rush Group LLC boosted its holdings in shares of Raymond James (NYSE:RJF) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,487 shares of the financial services provider’s stock after purchasing an additional 2,839 shares during the period. Raymond James comprises 1.3% of Nemes Rush Group LLC’s portfolio, making the stock its 27th biggest holding. Nemes Rush Group LLC’s holdings in Raymond James were worth $10,483,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after acquiring an additional 2,898,242 shares during the period. Norges Bank bought a new stake in shares of Raymond James in the 4th quarter worth about $294,647,000. Raymond James Financial Inc. acquired a new stake in shares of Raymond James during the 4th quarter worth about $105,701,000. JPMorgan Chase & Co. lifted its holdings 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 valued at $556,533,000 after purchasing an additional 488,245 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position 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 buying an additional 461,069 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RJF. JPMorgan Chase & Co. raised their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. JMP Securities raised their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and an average price target of $167.55.

Raymond James Price Performance

NYSE RJF opened at $138.72 on Tuesday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The business has a 50 day simple moving average of $154.44 and a 200 day simple moving average of $150.82. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted 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 net margin of 14.06% and a return on equity of 19.71%. Analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given 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 1.44%. Raymond James’s payout ratio is 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.