Nemes Rush Group LLC Increases Stake in Raymond James

Nemes Rush Group LLC has increased its ownership of shares in Raymond James (NYSE:RJF) by 4.4% during the fourth quarter, as detailed in a recent Form 13F filing with the Securities and Exchange Commission. Following this purchase, the firm now holds a total of 67,487 shares, which includes an additional 2,839 shares acquired during this period. This investment represents 1.3% of Nemes Rush Group LLC's overall portfolio, making Raymond James its 27th largest holding. As per the latest filing, the shares owned in Raymond James are valued at approximately $10,483,000.

Investment Activity by Other Firms

Recently, other large investors have also adjusted their positions in Raymond James. Wellington Management Group LLP, for instance, increased its stake by 31.4% in the third quarter, now owning 12,114,502 shares worth about $1.48 billion after adding 2,898,242 shares. Additionally, Norges Bank established a new position in Raymond James during the fourth quarter, valued at around $294.65 million. Furthermore, Raymond James Financial Inc. and JPMorgan Chase & Co. also acquired new stakes, with JPMorgan boosting its holdings by 12.0% in the same quarter. Institutional investors currently own approximately 83.83% of Raymond James stock.

Analysts' Ratings and Forecasts

Recent evaluations by analysts regarding Raymond James have influenced its market position. For example, JPMorgan raised its price target from $166.00 to $172.00 while maintaining a "neutral" rating in their report dated January 30th. Keefe, Bruyette & Woods similarly increased their price target from $170.00 to $177.00. Notably, JMP Securities raised their target to $190.00, and UBS Group upgraded the rating from "hold" to "strong-buy". Despite these positive adjustments, StockNews.com revised their rating from "buy" to "hold". The consensus among analysts indicates a "Hold" rating for Raymond James with an average price target set at $167.55.

Stock Performance Analysis

As of Tuesday, the stock price of Raymond James (NYSE:RJF) was $138.72. Over the past year, the stock has fluctuated, reaching a low of $104.24 and a high of $174.32. The company has a debt-to-equity ratio of 0.35 and current ratios indicative of its financial health. The stock also holds a market capitalization of approximately $28.42 billion, with a price-to-earnings ratio of 13.53 and a PEG ratio of 0.90.

Dividend Information

Raymond James recently announced a quarterly dividend that will be distributed on April 15th, subject to a record date of April 1st. Shareholders will receive a dividend of $0.50 per share, reflecting an annual payout of $2.00, which results in a dividend yield of 1.44%. The company's current payout ratio stands at 19.51%.

Company Overview

Raymond James Financial, Inc. is a financial holding company that, through its various subsidiaries, offers a wide range of financial services including underwriting, distribution, trading of equity and debt securities, and the sale of mutual funds both in the United States and internationally. Its operations encompass segments such as Private Client Group, Capital Markets, Asset Management, and RJ Bank.

Conclusion

This increasing investment trend by firms in Raymond James indicates growing confidence in the company's potential for future growth. For those interested in the financial services sector, monitoring these changes can provide insights into investment opportunities and market movements.

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