Nicolet Advisory Services LLC Makes New Investment in Raymond James (NYSE:RJF)

Nicolet Advisory Services LLC bought a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,478 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. State Street Corp boosted its holdings in shares of Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after buying an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Raymond James by 12.0% in 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. Geode Capital Management LLC raised its stake in shares of Raymond James by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after acquiring an additional 40,576 shares in the last quarter. Finally, Norges Bank purchased a new stake in Raymond James during the fourth quarter valued at approximately $294,647,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Trading Down 5.2 %

Shares of Raymond James stock opened at $123.51 on Friday. The stock has a market cap of $25.31 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The firm has a fifty day moving average price of $151.43 and a 200 day moving average price of $150.78. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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%. Equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.62%. Raymond James’s dividend payout ratio is presently 19.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RJF shares. Keefe, Bruyette & Woods upped their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Citigroup reduced their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. 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 report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price 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. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company 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.