HighTower Advisors LLC Has $1.92 Million Holdings in Raymond James (NYSE:RJF)

HighTower Advisors LLC lessened its holdings in shares of Raymond James (NYSE:RJF – Get Rating) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 18,058 shares of the financial services provider’s stock after selling 3,943 shares during the quarter. HighTower Advisors LLC’s holdings in Raymond James were worth $1,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its position in shares of Raymond James by 1.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 210,274 shares of the financial services provider’s stock worth $22,468,000 after purchasing an additional 2,194 shares in the last quarter. Sentry Investment Management LLC grew its position in shares of Raymond James by 9.7% during the 4th quarter. Sentry Investment Management LLC now owns 1,288 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 114 shares in the last quarter. Raymond James & Associates boosted its position in shares of Raymond James by 4.2% during the 4th quarter. Raymond James & Associates now owns 316,489 shares of the financial services provider’s stock worth $33,817,000 after acquiring an additional 12,623 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of Raymond James by 9.1% during the 4th quarter. Belpointe Asset Management LLC now owns 1,283 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 107 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Raymond James by 23.3% during the 4th quarter. UBS Group AG now owns 341,044 shares of the financial services provider’s stock worth $36,441,000 after acquiring an additional 64,370 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RJF. StockNews.com began coverage on shares of Raymond James in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Credit Suisse Group reduced their price target on shares of Raymond James from $119.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, January 26th. Citigroup reduced their price target on shares of Raymond James from $130.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 11th. Finally, Morgan Stanley reduced their price target on shares of Raymond James from $121.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, April 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $119.43.

Raymond James Stock Performance

Shares of Raymond James stock opened at $89.48 on Thursday. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $126.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market capitalization of $18.96 billion, a P/E ratio of 11.79 and a beta of 1.02. The company’s 50 day moving average price is $90.42 and its two-hundred day moving average price is $104.37.

Raymond James (NYSE:RJF – Get Rating) last issued its earnings results on Wednesday, April 26th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.14). The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.89 billion. Raymond James had a net margin of 14.01% and a return on equity of 18.43%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 EPS. On average, equities analysts forecast that Raymond James will post 8.99 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Monday, April 3rd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, March 31st. Raymond James’s payout ratio is currently 22.13%.

Raymond James Company Profile

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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.