73,570 Shares in Raymond James (NYSE:RJF) Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec bought a new stake in Raymond James (NYSE:RJF - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 73,570 shares of the financial services provider's stock, valued at approximately $11,428,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Assetmark Inc. increased its holdings in shares of Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 138 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Raymond James in the fourth quarter valued at about $105,701,000. Franklin Resources Inc. increased its position in Raymond James by 1.6% during the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider's stock worth $73,940,000 after purchasing an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in Raymond James in the 4th quarter valued at about $511,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Raymond James in the 4th quarter valued at approximately $21,334,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Down 0.1 %

Shares of NYSE RJF traded down $0.14 during mid-day trading on Friday, reaching $145.40. The company had a trading volume of 432,815 shares, compared to its average volume of 1,295,307. The firm has a 50 day simple moving average of $138.19 and a two-hundred day simple moving average of $152.13. The stock has a market cap of $29.79 billion, a P/E ratio of 14.19, a PEG ratio of 0.90 and a beta of 1.02. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. During the same quarter in the prior year, the business earned $2.31 EPS. The company's quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.38%. The ex-dividend date was Tuesday, April 1st. Raymond James's payout ratio is currently 19.25%.

Insider Buying and Selling at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on RJF shares. The Goldman Sachs Group decreased their price objective on Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Morgan Stanley upped their target price on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Wells Fargo & Company decreased their price objective on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price target on Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America downgraded Raymond James 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. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $153.82.

About Raymond James

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.