Raymond James (NYSE:RJF) Shares Sold by Callodine Capital Management LP

Callodine Capital Management LP decreased its holdings in Raymond James (NYSE:RJF) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the financial services provider’s stock after selling 25,000 shares during the quarter. Callodine Capital Management LP’s holdings in Raymond James were worth $3,883,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RJF. Assetmark Inc. increased its position in Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Raymond James during the 4th quarter valued at $105,701,000. Franklin Resources Inc. increased its holdings in shares of Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after buying an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Raymond James in the 4th quarter worth $511,000. Finally, Proficio Capital Partners LLC acquired a new position in Raymond James in the fourth quarter valued at $21,334,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of NYSE RJF opened at $133.48 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. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The business has a 50 day moving average price of $143.53 and a two-hundred day moving average price of $151.26. The firm has a market cap of $27.35 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Sell-side analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, April 1st. Raymond James’s payout ratio is currently 19.51%.

Analyst Ratings Changes

RJF has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. lifted their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, Bank of America lifted their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Nine investment 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. According to MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $160.27.

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.