Wellspring Financial Advisors LLC Trims Stock Position in Raymond James (NYSE:RJF)

Wellspring Financial Advisors LLC decreased its holdings in Raymond James (NYSE:RJF) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,728 shares of the financial services provider’s stock after selling 800 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Raymond James were worth $3,530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in Raymond James in the fourth quarter valued at approximately $294,647,000. Raymond James Financial Inc. purchased a new stake in shares of Raymond James during the 4th quarter valued at $105,701,000. JPMorgan Chase & Co. increased its holdings in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Raymond James by 433.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock worth $88,144,000 after buying an additional 461,069 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in Raymond James in the third quarter valued at $34,105,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Down 5.2 %

NYSE:RJF opened at $123.51 on Monday. The stock has a market cap of $25.31 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The business’s 50-day simple moving average is $151.43 and its 200 day simple moving average is $151.20.

Raymond James (NYSE:RJF) last announced its 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 return on equity of 19.71% and a net margin of 14.06%. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RJF shares. Wells Fargo & Company raised their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group decreased their price target on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $164.64.

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.