Belpointe Asset Management LLC Cuts Stake in Raymond James (NYSE:RJF)

Belpointe Asset Management LLC decreased its stake in Raymond James (NYSE:RJF) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,670 shares of the financial services provider’s stock after selling 545 shares during the period. Belpointe Asset Management LLC’s holdings in Raymond James were worth $725,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RJF. FMR LLC lifted its holdings in Raymond James by 2.2% in the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after buying an additional 137,277 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $680,378,000 after purchasing an additional 40,576 shares during the last quarter. Invesco Ltd. grew its stake in Raymond James by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock valued at $378,276,000 after purchasing an additional 192,904 shares in the last quarter. Finally, Norges Bank purchased a new stake in Raymond James during the 4th quarter worth approximately $294,647,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on RJF shares. Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Citigroup decreased their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Bank of America boosted their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JMP Securities dropped their price target on Raymond James from $190.00 to $175.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine equities research 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. According to data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus target price of $160.27.

Raymond James Stock Performance

RJF opened at $136.24 on Wednesday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a market capitalization of $27.92 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The business has a 50 day moving average price of $144.81 and a two-hundred day moving average price of $151.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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%. Research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.50 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.47%. Raymond James’s dividend payout ratio is currently 19.51%.

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.