Ontario Teachers Pension Plan Board Makes New $276,000 Investment in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• The Ontario Teachers Pension Plan Board purchased 1,990 shares of Raymond James Financial, valued at approximately $276,000, indicating institutional interest in the company.
• Recent research reports highlight a mix of ratings on RJF, with JPMorgan raising the price target to $172 and Bank of America downgrading it to neutral at $159.
• Raymond James Financial declared a quarterly dividend of $0.50, resulting in a 1.2% yield, with a current dividend payout ratio of 19.61%.

Ontario Teachers Pension Plan Board purchased a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,990 shares of the financial services provider's stock, valued at approximately $276,000.

Other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. increased its stake in shares of Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock valued at $778,000 after buying an additional 197 shares during the period. Golden State Wealth Management LLC grew its stake in Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Raymond James Financial during the fourth quarter worth about $9,366,000. Assenagon Asset Management S.A. grew its stake in shares of Raymond James Financial by 13.8% during the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after acquiring an additional 3,035 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Raymond James Financial by 0.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after purchasing an additional 3,691 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 transaction of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RJF shares. JMP Securities boosted their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Cowen restated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley lifted their price target on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial Stock Performance

Raymond James Financial stock traded up $3.53 during mid-day trading on Tuesday, hitting $168.45. 649,525 shares of the company's stock traded hands, compared to its average volume of 1,080,110. The firm has a 50 day moving average price of $157.10 and a 200 day moving average price of $150.23. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market cap of $33.58 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05. Raymond James Financial, Inc. has a one year low of $110.06 and a one year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results 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). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.39 earnings per share. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend 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.