JPMorgan Chase & Co. Sells 125,338 Shares of Raymond James (NYSE:RJF)

JPMorgan Chase & Co. lessened its holdings in shares of Raymond James (NYSE:RJF) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,419,272 shares of the financial services provider’s stock after selling 125,338 shares during the quarter. JPMorgan Chase & Co. owned about 2.16% of Raymond James worth $686,446,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RJF. TCTC Holdings LLC lifted its stake in shares of Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after buying an additional 106 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in 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 acquiring an additional 127 shares during the period. Plato Investment Management Ltd lifted its position in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares in the last quarter. 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 acquiring an additional 187 shares during the period. Finally, Eastern Bank bought a new position in shares of Raymond James in the fourth quarter worth $68,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

RJF opened at $138.97 on Friday. 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 has a 1 year low of $104.24 and a 1 year high of $174.32. The stock’s 50 day simple moving average is $155.00 and its 200 day simple moving average is $150.19. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Analysts Set New Price Targets

RJF has been the topic of a number of recent research reports. Citigroup increased their price objective on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Bank of America lifted their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. increased their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, JMP Securities lifted their price target on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $167.55.

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.