Financial Counselors Inc. Sells 1,024 Shares of Raymond James (NYSE:RJF)

Financial Counselors Inc. reduced its position in Raymond James (NYSE:RJF) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,942 shares of the financial services provider’s stock after selling 1,024 shares during the period. Financial Counselors Inc.’s holdings in Raymond James were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC boosted its position in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd lifted its stake in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 217 shares during the period. Quarry LP boosted its holdings in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new stake in Raymond James during the fourth quarter valued at approximately $68,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the topic of several recent research reports. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Bank of America lifted their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $167.55.

Raymond James Trading Down 1.2 %

Raymond James stock opened at $142.74 on Friday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm’s 50 day moving average price is $155.56 and its 200-day moving average price is $150.03. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market cap of $29.25 billion, a P/E ratio of 13.93, a PEG ratio of 0.90 and a beta of 1.04.

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

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 1.40%. Raymond James’s dividend payout ratio is currently 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.