Oxford Financial Group LTD. LLC Reduces Stock Position in Raymond James

Oxford Financial Group LTD. LLC has reduced its investment in Raymond James (NYSE:RJF - Free Report) by 31.9% during the fourth quarter. According to recent disclosures with the Securities and Exchange Commission (SEC), the institutional investor now holds 6,871 shares of the financial services company after divesting 3,221 shares in that period. As of the latest SEC filing, Oxford's stake in Raymond James is valued at $1,067,000.

Recently, several other institutional investors have also adjusted their positions with regards to Raymond James shares. For instance, Assetmark Inc. increased its stake by 43.8% during the fourth quarter, bringing its ownership to 453 shares valued at $70,000 after purchasing an additional 138 shares. Meanwhile, Raymond James Financial Inc. entered a new investment during the same quarter, with a total valued at $105,701,000. Franklin Resources Inc. also raised its investment by 1.6% in the third quarter, now holding 568,070 shares worth $73,940,000 after acquiring an extra 9,217 shares. Other notable movements include J.W. Cole Advisors Inc. and Proficio Capital Partners LLC, both purchasing new stakes in Raymond James valued at $511,000 and $21,334,000, respectively. Currently, approximately 83.83% of the company's stock is held by various hedge funds and institutional investors.

Wall Street Analysts Forecast Growth

Numerous brokerage firms have recently provided updated ratings for Raymond James. UBS Group upgraded the shares from a "hold" rating to a "strong-buy" rating as of January 6th. Additionally, Wells Fargo & Company have increased their price target for Raymond James from $168.00 to $176.00, maintaining an "equal weight" rating. On the same day, JPMorgan Chase & Co. also raised their price target from $166.00 to $172.00, saying the stock has a "neutral" rating. Bank of America increased its price target from $198.00 to $201.00, providing a "buy" rating. JMP Securities similarly lifted its target from $175.00 to $190.00, classifying the shares as "market outperform." Overall, nine research analysts have given a hold rating, three a buy, and one a strong buy, resulting in an average rating of "Hold" and a price target of $167.55 according to MarketBeat.

Raymond James Stock Performance

On Friday, shares of Raymond James opened at $141.64. The stock has a 50-day simple moving average of $157.02 and a 200-day simple moving average of $149.14. The company carries a debt-to-equity ratio of 0.35, with a current ratio and quick ratio of 1.03 and 1.01, respectively. Its market capitalization stands at $29.02 billion, with a PE ratio of 13.82 and a price-to-earnings-growth ratio of 0.90, alongside a beta of 1.04. Within the last year, Raymond James has recorded a 12-month low of $104.24 and a high of $174.32.

Earnings Report and Dividend Announcement

Raymond James recently announced its quarterly earnings on January 29th, revealing earnings per share (EPS) of $2.93, surpassing the anticipated $2.62 estimate by $0.31. The financial institution noted a net margin of 14.06% and a return on equity of 19.71%. Analysts predict an EPS of 11.17 for the current fiscal year. Additionally, the company declared a quarterly dividend of $0.50 payable on April 15th to investors recorded as of April 1st. This equates to an annualized dividend of $2.00, providing a yield of 1.41% and a dividend payout ratio of 19.51%.

About Raymond James

Raymond James Financial, Inc. operates as a financial holding company with various subsidiaries involved in underwriting, distributing, trading, and offering brokerage services for equity and debt securities. They also provide mutual funds and other investment products across the United States, Canada, Europe, and globally. The business is structured into several segments including Private Client Group, Capital Markets, Asset Management, RJ Bank, among others.

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