iA Global Asset Management Inc. Purchases 5,300 Shares of Raymond James (NYSE:RJF)

iA Global Asset Management Inc. boosted its position in shares of Raymond James (NYSE:RJF) by 187.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,132 shares of the financial services provider’s stock after acquiring an additional 5,300 shares during the period. iA Global Asset Management Inc.’s holdings in Raymond James were worth $1,263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its stake in Raymond James by 1.5% during the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after buying an additional 64 shares during the last quarter. CX Institutional boosted its stake in Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after buying an additional 66 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in Raymond James by 3.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after buying an additional 67 shares during the last quarter. Stablepoint Partners LLC boosted its stake in Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after buying an additional 73 shares during the last quarter. Finally, Keybank National Association OH raised its position in Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock valued at $1,747,000 after purchasing an additional 76 shares during the period. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RJF. Keefe, Bruyette & Woods upped their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Citigroup upped their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. JMP Securities upped their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Bank of America upped their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $167.55.

Raymond James Trading Down 0.3 %

RJF opened at $141.35 on Friday. The stock’s fifty day moving average is $156.76 and its two-hundred day moving average is $149.29. The company has a market capitalization of $28.96 billion, a P/E ratio of 13.79, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. 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 released its quarterly earnings data 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 return on equity of 19.71% and a net margin of 14.06%. Analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.41%. Raymond James’s payout ratio is currently 19.51%.

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.