United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $746,000 Position in Raymond James (NYSE:RJF)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Raymond James (NYSE:RJF) in the fourth quarter, HoldingsChannel.com reports. The fund bought 4,800 shares of the financial services provider’s stock, valued at approximately $746,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. TCTC Holdings LLC grew its position in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 106 shares during the period. Y.D. More Investments Ltd increased its stake 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 buying an additional 127 shares in the last quarter. Plato Investment Management Ltd raised its holdings 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 valued at $37,000 after buying an additional 217 shares during the last quarter. Quarry LP lifted its position in Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares in the last quarter. Finally, Eastern Bank bought a new stake in Raymond James during the 4th quarter worth about $68,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America upped their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. JMP Securities lifted their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and an average price target of $167.55.

Raymond James Stock Performance

Shares of RJF opened at $145.73 on Wednesday. The firm’s 50 day moving average price is $156.35 and its two-hundred day moving average price is $150.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The firm has a market cap of $29.86 billion, a P/E ratio of 14.22, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping 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%. On average, analysts forecast 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 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 1.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s 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.