Envestnet Asset Management Inc. Sells 53,864 Shares of Raymond James (NYSE:RJF)

Envestnet Asset Management Inc. lessened its stake in shares of Raymond James (NYSE:RJF) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,066,153 shares of the financial services provider’s stock after selling 53,864 shares during the period. Envestnet Asset Management Inc. owned 0.52% of Raymond James worth $165,606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in RJF. State Street Corp grew its holdings in Raymond James by 0.7% during the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after buying an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 purchasing an additional 488,245 shares in the last quarter. Geode Capital Management LLC increased its position in Raymond James by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after purchasing an additional 40,576 shares during the last quarter. Norges Bank purchased a new stake in Raymond James during the fourth quarter valued at $294,647,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Raymond James by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider’s stock valued at $167,472,000 after purchasing an additional 13,817 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Performance

Raymond James stock opened at $123.51 on Monday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a market capitalization of $25.31 billion, a PE ratio of 12.05, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a 50 day moving average price of $151.43 and a 200-day moving average price of $151.20. 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 issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating 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%. As a group, equities 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. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Analysts Set New Price Targets

RJF has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price 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. Morgan Stanley upped their price objective on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. JMP Securities raised their price objective 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. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Nine equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.64.

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.