Assetmark Inc. Has $39,000 Position in Raymond James (NYSE:RJF)

Assetmark Inc. decreased its holdings in shares of Raymond James (NYSE:RJF) by 97.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315 shares of the financial services provider’s stock after selling 14,636 shares during the period. Assetmark Inc.’s holdings in Raymond James were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RJF. Wolff Wiese Magana LLC grew its holdings in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the period. Quarry LP bought a new stake in Raymond James in the 2nd quarter valued at about $29,000. Covestor Ltd raised its position in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Raymond James during the third quarter worth $32,000. Finally, Rothschild Investment LLC bought a new position in shares of Raymond James in the second quarter valued at $62,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Price Performance

RJF opened at $163.42 on Tuesday. The firm has a market cap of $33.66 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.81 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $136.16 and its 200 day simple moving average is $124.81. Raymond James has a 1 year low of $102.42 and a 1 year high of $164.33.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.13 earnings per share. As a group, analysts predict that Raymond James will post 10.83 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is currently 18.54%.

Analysts Set New Price Targets

A number of analysts have commented on RJF shares. The Goldman Sachs Group boosted their price objective on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Bank of America increased their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. JMP Securities boosted their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $140.91.

Raymond James Company 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.