Frontier Capital Management Co. LLC boosted its position in Raymond James (NYSE:RJF) by 6.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,572,016 shares of the financial services provider’s stock after purchasing an additional 97,369 shares during the quarter. Raymond James comprises approximately 0.9% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 16th largest holding. Frontier Capital Management Co. LLC’s holdings in Raymond James were worth $144,704,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Willingdon Wealth Management acquired a new stake in Raymond James in the 2nd quarter valued at approximately $112,000. Rehmann Capital Advisory Group raised its position in Raymond James by 57.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock valued at $129,000 after buying an additional 530 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Raymond James in the 2nd quarter valued at approximately $135,000. CENTRAL TRUST Co raised its position in Raymond James by 59.9% in the 3rd quarter. CENTRAL TRUST Co now owns 1,868 shares of the financial services provider’s stock valued at $172,000 after buying an additional 700 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Raymond James in the 2nd quarter valued at approximately $183,000. 71.41% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on RJF. Zacks Investment Research raised Raymond James from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Buckingham Research dropped their target price on Raymond James from $117.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Co dropped their target price on Raymond James from $111.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday. Citigroup raised Raymond James from a “neutral” rating to a “buy” rating in a research report on Friday, July 13th. Finally, Wolfe Research began coverage on Raymond James in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Raymond James has an average rating of “Hold” and a consensus target price of $104.00.
Shares of NYSE:RJF traded up $1.19 during trading on Tuesday, hitting $74.04. 3,935 shares of the company were exchanged, compared to its average volume of 1,195,364. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67. Raymond James has a fifty-two week low of $71.93 and a fifty-two week high of $102.17. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.
Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by ($0.13). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Raymond James had a return on equity of 15.99% and a net margin of 11.46%. As a group, analysts anticipate that Raymond James will post 7.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, September 28th. Raymond James’s dividend payout ratio (DPR) is 18.55%.
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.
Featured Story: Retained Earnings
Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJF).
Receive News & Ratings for Raymond James Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James and related companies with MarketBeat.com's FREE daily email newsletter.