Intact Investment Management Inc. Has $1.27 Million Stock Position in Raymond James (NYSE:RJF)

Intact Investment Management Inc. boosted its holdings in Raymond James (NYSE:RJF) by 24.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,200 shares of the financial services provider’s stock after buying an additional 1,600 shares during the quarter. Intact Investment Management Inc.’s holdings in Raymond James were worth $1,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Raymond James by 31.4% in the 3rd 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in Raymond James in the fourth quarter valued at approximately $105,701,000. JPMorgan Chase & Co. grew its stake in shares of Raymond James by 12.0% during the third 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. increased its holdings in shares of Raymond James by 433.4% during the fourth 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 in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Raymond James in the 3rd quarter valued at $34,105,000. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the subject of a number of recent research reports. Morgan Stanley upped their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. 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 note on Thursday, January 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, 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. Nine 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’s stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Up 2.0 %

Shares of Raymond James stock opened at $142.64 on Friday. The stock’s 50-day moving average is $158.23 and its 200 day moving average is $148.43. Raymond James has a one year low of $104.24 and a one year high of $174.32. The firm has a market cap of $29.23 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.90 and a beta of 1.04. 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 posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping 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 anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Raymond James 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.