Alliancebernstein L.P. Has $38.46 Million Stock Position in Raymond James (NYSE:RJF)

Alliancebernstein L.P. raised its holdings in shares of Raymond James (NYSE:RJF) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,600 shares of the financial services provider’s stock after buying an additional 36,681 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Raymond James worth $38,460,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC raised its stake in Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd grew its position in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd increased its holdings in shares of Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 217 shares during the period. Quarry LP raised its position in shares of Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of Raymond James in the fourth quarter valued at about $68,000. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Down 5.2 %

Shares of RJF stock opened at $123.51 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $25.31 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.90 and a beta of 0.94. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The firm has a 50-day moving average price of $151.43 and a 200 day moving average price of $150.99.

Raymond James (NYSE:RJF) last announced 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 return on equity of 19.71% and a net margin of 14.06%. Research analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.62%. Raymond James’s dividend payout ratio is 19.51%.

Analyst Ratings Changes

RJF has been the topic of several research reports. The Goldman Sachs Group lowered their price target on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Citigroup reduced their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, Morgan Stanley raised their price objective on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Nine investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.