Assetmark Inc. Buys 138 Shares of Raymond James (NYSE:RJF)

Assetmark Inc. increased its stake in Raymond James (NYSE:RJF) by 43.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 453 shares of the financial services provider’s stock after purchasing an additional 138 shares during the period. Assetmark Inc.’s holdings in Raymond James were worth $70,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its position 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 worth $73,940,000 after purchasing an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Raymond James during the fourth quarter valued at approximately $511,000. Banque Cantonale Vaudoise bought a new position in Raymond James during the third quarter valued at approximately $3,561,000. Sumitomo Mitsui Trust Group Inc. grew its position in Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after acquiring an additional 7,028 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Raymond James during the fourth quarter valued at approximately $21,334,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Stock Performance

Shares of RJF stock opened at $142.64 on Friday. The stock has a fifty day moving average of $158.23 and a 200 day moving average of $148.43. 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 $29.23 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last announced its quarterly earnings results 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%. As a group, research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Analyst Ratings Changes

A number of research analysts have commented on RJF shares. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley increased their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised 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. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Finally, Bank of America raised their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $167.55.

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.