Envestnet Portfolio Solutions Inc. Decreases Stock Position in Raymond James (NYSE:RJF)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Raymond James (NYSE:RJF) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,368 shares of the financial services provider’s stock after selling 69 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Raymond James were worth $3,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted 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 acquiring an additional 2,898,242 shares during the period. Raymond James Financial Inc. bought a new position in Raymond James during the 4th quarter valued at $105,701,000. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 488,245 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Raymond James by 433.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock worth $88,144,000 after purchasing an additional 461,069 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Raymond James in the third quarter worth approximately $34,105,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RJF. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their price target 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. Morgan Stanley raised their price objective on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, JMP Securities boosted their price objective on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $167.55.

Raymond James Stock Performance

RJF opened at $146.44 on Thursday. The stock has a market cap of $30.01 billion, a PE ratio of 14.29, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The stock’s 50 day simple moving average is $157.37 and its 200-day simple moving average is $149.19. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating 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 forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is 19.51%.

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.