Raymond James (RJF) Stake Lowered by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its holdings in Raymond James (NYSE:RJF) by 13.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,262 shares of the financial services provider’s stock after selling 989 shares during the period. Gateway Investment Advisers LLC’s holdings in Raymond James were worth $504,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Raymond James during the fourth quarter valued at $62,711,000. Thrivent Financial for Lutherans boosted its position in Raymond James by 2,964.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 685,464 shares of the financial services provider’s stock valued at $51,005,000 after purchasing an additional 663,096 shares during the last quarter. Bank of Nova Scotia boosted its position in Raymond James by 1,105.4% during the fourth quarter. Bank of Nova Scotia now owns 319,579 shares of the financial services provider’s stock valued at $23,779,000 after purchasing an additional 293,066 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in Raymond James during the fourth quarter valued at $16,288,000. Finally, Eaton Vance Management boosted its position in Raymond James by 51.5% during the fourth quarter. Eaton Vance Management now owns 561,633 shares of the financial services provider’s stock valued at $41,791,000 after purchasing an additional 190,824 shares during the last quarter. 71.58% of the stock is owned by institutional investors and hedge funds.

RJF opened at $89.19 on Friday. The firm has a market cap of $12.34 billion, a P/E ratio of 13.79 and a beta of 1.55. Raymond James has a 1 year low of $69.11 and a 1 year 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 0.48.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Raymond James had a return on equity of 15.86% and a net margin of 12.79%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the firm earned $1.61 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts predict that Raymond James will post 7.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.34 per share. The ex-dividend date was Friday, March 29th. This represents a $1.36 annualized dividend and a yield of 1.52%. Raymond James’s dividend payout ratio (DPR) is currently 21.02%.

RJF has been the subject of a number of research reports. Wells Fargo & Co lifted their price objective on Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Zacks Investment Research raised Raymond James from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Finally, Credit Suisse Group reduced their price objective on Raymond James from $100.00 to $93.00 and set a “neutral” rating for the company in a research report on Monday, January 14th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $94.63.

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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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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