Morey & Quinn Wealth Partners LLC Makes New Investment in Raymond James (NYSE:RJF)

Morey & Quinn Wealth Partners LLC acquired a new stake in Raymond James (NYSE:RJF) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,392 shares of the financial services provider’s stock, valued at approximately $372,000.

Other hedge funds have also bought and sold shares of the company. TCTC Holdings LLC boosted its stake in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Raymond James by 121.0% during the fourth 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 in the last quarter. Plato Investment Management Ltd increased its stake in 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 acquiring an additional 217 shares during the last quarter. Quarry LP raised its position in shares of Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares in the last quarter. Finally, Eastern Bank purchased a new position in Raymond James in the fourth quarter worth $68,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Price Performance

Shares of Raymond James stock opened at $145.73 on Wednesday. The business has a 50 day moving average of $156.35 and a 200 day moving average of $150.12. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a market cap of $29.86 billion, a PE ratio of 14.22, a P/E/G 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 posted 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, equities research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. JMP Securities upped their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Citigroup lifted 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. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock 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.