97,918 Shares in Raymond James Financial, Inc. $RJF Bought by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 97,918 Raymond James Financial shares worth approximately $14.9 million, while institutional investors and hedge funds collectively own 83.83% of the company.
• Raymond James reported quarterly earnings of $3.14 per share, beating estimates of $2.91, while revenue rose 15.6% year over year to $3.93 billion.
• The company declared a quarterly dividend of $0.54 per share, equivalent to an annualized $2.16 payout and a 1.2% yield; analysts’ consensus rating remains “Hold,” with an average price target of $181.

Public Employees Retirement System of Ohio acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 97,918 shares of the financial services provider's stock, valued at approximately $14,886,000. Public Employees Retirement System of Ohio owned about 0.05% of Raymond James Financial at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Raymond James Financial in the second quarter valued at about $2,180,699,000. Primecap Management Co. CA purchased a new position in Raymond James Financial during the second quarter worth about $1,405,145,000. Bank of America Corp DE acquired a new stake in Raymond James Financial in the second quarter valued at about $360,592,000. Norges Bank acquired a new stake in Raymond James Financial in the fourth quarter valued at about $324,263,000. Finally, Bank of New York Mellon Corp purchased a new stake in Raymond James Financial in the 2nd quarter valued at approximately $182,254,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.1%

RJF opened at $179.50 on Monday. The business's fifty day moving average is $170.25 and its two-hundred day moving average is $157.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.10 and a beta of 0.92. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analysts' expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the business posted $2.18 earnings per share. Analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is 18.83%.

Analysts Set New Price Targets

Several research firms have recently commented on RJF. Citizens Jmp raised their price target on Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a report on Thursday, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. TD Cowen decreased their target price on shares of Raymond James Financial from $162.00 to $161.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. BMO Capital Markets reiterated a "market perform" rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Finally, Argus boosted their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $181.00.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.58% of the company's stock.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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