Citigroup Inc. Increases Stake in Raymond James (NYSE:RJF)

Citigroup Inc. lifted its stake in shares of Raymond James (NYSE:RJFGet Rating) by 33.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,278 shares of the financial services provider’s stock after acquiring an additional 51,567 shares during the period. Citigroup Inc. owned 0.10% of Raymond James worth $20,811,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Center for Financial Planning Inc. increased its position in Raymond James by 50.0% during the 3rd quarter. Center for Financial Planning Inc. now owns 24,753 shares of the financial services provider’s stock worth $2,284,000 after purchasing an additional 8,249 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Raymond James by 27.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 25,241 shares of the financial services provider’s stock worth $2,329,000 after purchasing an additional 5,363 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Raymond James by 49.9% during the 3rd quarter. Geneos Wealth Management Inc. now owns 742 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 247 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in Raymond James by 53.5% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 35,673 shares of the financial services provider’s stock worth $3,293,000 after purchasing an additional 12,435 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Raymond James by 43.2% in the third quarter. Alliancebernstein L.P. now owns 267,872 shares of the financial services provider’s stock valued at $24,719,000 after acquiring an additional 80,820 shares in the last quarter. Institutional investors and hedge funds own 76.98% of the company’s stock.

Several brokerages have issued reports on RJF. Seaport Res Ptn raised shares of Raymond James from a “neutral” rating to a “buy” rating in a research report on Friday, January 28th. Morgan Stanley increased their target price on Raymond James from $128.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, April 11th. StockNews.com upgraded Raymond James from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Citigroup reduced their price objective on Raymond James from $205.00 to $195.00 in a research note on Friday, April 29th. Finally, Zacks Investment Research cut Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 price objective on the stock. in a research note on Wednesday, March 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $129.62.

In related news, insider James E. Bunn sold 6,000 shares of Raymond James stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $100.21, for a total transaction of $601,260.00. Following the transaction, the insider now directly owns 25,096 shares of the company’s stock, valued at $2,514,870.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 10.25% of the stock is currently owned by company insiders.

Shares of RJF opened at $96.92 on Wednesday. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 13.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.98. Raymond James has a one year low of $81.96 and a one year high of $117.37. The stock’s fifty day moving average is $104.10 and its 200-day moving average is $103.25.

Raymond James (NYSE:RJFGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.07). The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.67 billion. Raymond James had a net margin of 13.97% and a return on equity of 19.36%. Raymond James’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the business posted $1.67 earnings per share. Analysts forecast that Raymond James will post 7.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 4th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, April 1st. Raymond James’s dividend payout ratio (DPR) is 19.17%.

Raymond James Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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