Lord Abbett & CO. LLC decreased its position in shares of Raymond James (NYSE:RJF) by 9.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 526,527 shares of the financial services provider’s stock after selling 53,798 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Raymond James were worth $39,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc boosted its position in Raymond James by 1.3% during the third quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock valued at $1,266,683,000 after purchasing an additional 182,616 shares in the last quarter. BlackRock Inc. boosted its position in Raymond James by 1.1% during the fourth quarter. BlackRock Inc. now owns 8,648,787 shares of the financial services provider’s stock valued at $643,557,000 after purchasing an additional 97,786 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Raymond James by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 2,642,714 shares of the financial services provider’s stock valued at $243,262,000 after purchasing an additional 11,510 shares in the last quarter. Geode Capital Management LLC boosted its position in Raymond James by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 1,643,101 shares of the financial services provider’s stock valued at $122,040,000 after purchasing an additional 102,797 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Raymond James by 1.2% during the fourth quarter. Northern Trust Corp now owns 1,486,063 shares of the financial services provider’s stock valued at $110,579,000 after purchasing an additional 17,404 shares in the last quarter. 71.17% of the stock is currently owned by institutional investors and hedge funds.

Raymond James stock opened at $82.00 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.10. Raymond James has a one year low of $69.11 and a one year high of $102.17. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.56.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. Raymond James had a return on equity of 15.86% and a net margin of 12.79%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business posted $1.61 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Raymond James will post 7.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, March 29th. Raymond James’s dividend payout ratio (DPR) is presently 21.02%.

RJF has been the topic of a number of recent research reports. ValuEngine downgraded Raymond James from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Raymond James in a research report on Thursday, January 24th. Zacks Investment Research raised Raymond James from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Goldman Sachs Group initiated coverage on Raymond James in a research report on Tuesday, November 27th. They set a “neutral” rating and a $85.00 price objective on the stock. Finally, Credit Suisse Group dropped their price objective on Raymond James from $100.00 to $93.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $95.20.

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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.

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

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