BNP Paribas Financial Markets Buys 109,300 Shares of Raymond James (NYSE:RJF)

BNP Paribas Financial Markets grew its position in Raymond James (NYSE:RJF) by 28.4% during the fourth quarter, HoldingsChannel reports. The firm owned 494,123 shares of the financial services provider’s stock after buying an additional 109,300 shares during the quarter. BNP Paribas Financial Markets’ holdings in Raymond James were worth $76,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. TCTC Holdings LLC raised its holdings in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 106 shares during the period. Y.D. More Investments Ltd grew its position in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of Raymond James by 1,142.1% in the fourth 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. Covestor Ltd lifted its position in shares of Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in Raymond James during the 4th quarter valued at approximately $53,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent analyst reports. Cowen reaffirmed a “hold” rating on shares of Raymond James in a research report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price 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. Wells Fargo & Company reduced their price target on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Citigroup dropped their price objective on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James has an average rating of “Hold” and an average price target of $153.82.

Raymond James Stock Down 0.7 %

Shares of RJF opened at $141.12 on Wednesday. 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 50-day moving average price of $138.51 and a two-hundred day moving average price of $152.13. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.90 and a beta of 1.02. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business earned $2.31 EPS. Raymond James’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.25%.

Insider Activity at Raymond James

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider now owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.