Amundi Boosts Stock Position in Raymond James Financial, Inc. $RJF

Amundi raised its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 19.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,939 shares of the financial services provider's stock after buying an additional 77,638 shares during the period. Amundi owned about 0.25% of Raymond James Financial worth $72,813,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RJF. California State Teachers Retirement System raised its position in shares of Raymond James Financial by 14,565.3% during the 2nd quarter. California State Teachers Retirement System now owns 39,471,093 shares of the financial services provider's stock worth $6,000,790,000 after acquiring an additional 39,201,946 shares in the last quarter. Wedmont Private Capital boosted its holdings in Raymond James Financial by 4.0% in the second quarter. Wedmont Private Capital now owns 10,764 shares of the financial services provider's stock valued at $1,810,000 after purchasing an additional 410 shares in the last quarter. Nilsine Partners LLC increased its stake in Raymond James Financial by 2.1% in the second quarter. Nilsine Partners LLC now owns 14,060 shares of the financial services provider's stock valued at $2,138,000 after purchasing an additional 285 shares during the last quarter. Saudi Central Bank increased its stake in Raymond James Financial by 79.3% in the second quarter. Saudi Central Bank now owns 12,417 shares of the financial services provider's stock valued at $1,888,000 after purchasing an additional 5,493 shares during the last quarter. Finally, AlphaGrep UK Ltd acquired a new stake in Raymond James Financial during the second quarter worth approximately $919,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Price Performance

RJF stock opened at $175.56 on Thursday. The company has a market capitalization of $33.77 billion, a P/E ratio of 15.31, a PEG ratio of 1.08 and a beta of 0.91. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. The business has a 50 day simple moving average of $174.01 and a 200-day simple moving average of $159.04. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $3.87 billion. During the same period in the previous year, the company posted $2.18 EPS. The company's quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 12.08 EPS for the current year.

Raymond James Financial Dividend Announcement

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

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the sale, the insider directly owned 43,046 shares of the company's stock, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Allaire sold 7,500 shares of Raymond James Financial stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $177.60, for a total value of $1,332,000.00. Following the completion of the transaction, the insider owned 46,086 shares in the company, valued at $8,184,873.60. This trade represents a 14.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 23,270 shares of company stock worth $4,090,637. Company insiders own 0.58% of the company's stock.

Analyst Ratings Changes

RJF has been the subject of several recent analyst reports. BMO Capital Markets restated a "market perform" rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Citizens Jmp increased their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a research report on Thursday, July 23rd. Argus lifted their price target on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Truist Financial set a $188.00 price target on shares of Raymond James Financial and gave the company a "hold" rating in a research report on Tuesday, September 1st. Finally, Morgan Stanley upped their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $181.46.

About Raymond James Financial

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Founded in 1962, the company provides investment, wealth management and financial planning services to individuals, corporations, institutions and municipalities.

Through its principal businesses, Raymond James offers securities brokerage, investment advisory, retirement planning, trust services and banking products. Its operations also include equity and debt capital markets, investment banking, institutional sales and trading, research, and asset management.

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