Public Sector Pension Investment Board Has $6.85 Million Position in Raymond James Financial, Inc. (NYSE:RJF)

Public Sector Pension Investment Board boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,295 shares of the financial services provider’s stock after purchasing an additional 1,788 shares during the quarter. Public Sector Pension Investment Board’s holdings in Raymond James Financial were worth $6,848,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Raymond James Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock valued at $3,089,942,000 after purchasing an additional 347,916 shares during the period. Invesco Ltd. grew its position in Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock valued at $403,038,000 after purchasing an additional 466,129 shares during the period. Earnest Partners LLC boosted its holdings in Raymond James Financial by 1.0% during the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock worth $393,554,000 after acquiring an additional 24,195 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Raymond James Financial by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock worth $324,390,000 after acquiring an additional 178,262 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Raymond James Financial by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock worth $327,314,000 after acquiring an additional 327,739 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Bank of America downgraded shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price objective on the stock. in a report on Wednesday, April 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $163.80.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $163.30 on Friday. The company’s 50-day moving average is $158.22 and its 200 day moving average is $150.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market capitalization of $32.56 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05. Raymond James Financial, Inc. has a fifty-two week low of $113.91 and a fifty-two week high of $174.32.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm posted $2.39 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial’s payout ratio is currently 19.61%.

About Raymond James Financial

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.