Franklin Resources Inc. Has $88.82 Million Stock Holdings in Raymond James (NYSE:RJF)

Franklin Resources Inc. lifted its position in shares of Raymond James (NYSE:RJF) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 571,788 shares of the financial services provider’s stock after buying an additional 3,718 shares during the quarter. Franklin Resources Inc. owned about 0.28% of Raymond James worth $88,816,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RJF. Alliancebernstein L.P. boosted its stake in shares of Raymond James by 17.4% in the fourth quarter. Alliancebernstein L.P. now owns 247,600 shares of the financial services provider’s stock valued at $38,460,000 after buying an additional 36,681 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Raymond James by 6.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 17,130 shares of the financial services provider’s stock valued at $2,661,000 after acquiring an additional 994 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Raymond James by 0.6% during the 4th quarter. Clearbridge Investments LLC now owns 238,599 shares of the financial services provider’s stock valued at $37,062,000 after acquiring an additional 1,468 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Raymond James by 6.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 16,455 shares of the financial services provider’s stock worth $2,623,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Raymond James by 23.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 53,908 shares of the financial services provider’s stock worth $8,374,000 after purchasing an additional 10,172 shares during the period. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RJF shares. JPMorgan Chase & Co. increased 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. Citigroup decreased their price objective on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company upped their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $165.73.

Raymond James Stock Performance

NYSE RJF opened at $142.29 on Thursday. The company has a market capitalization of $29.16 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.90 and a beta of 1.04. 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 twelve month low of $104.24 and a twelve month high of $174.32. The stock has a fifty day simple moving average of $153.24 and a 200 day simple moving average of $150.90.

Raymond James (NYSE:RJF) last issued its quarterly earnings data 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%. Sell-side analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio 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.