5,800 Shares in Raymond James Financial, Inc. (NYSE:RJF) Acquired by Board of the Pension Protection Fund

Board of the Pension Protection Fund purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,800 shares of the financial services provider's stock, valued at approximately $806,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the 1st quarter worth $25,000. TCTC Holdings LLC increased its holdings in Raymond James Financial by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in Raymond James Financial during the first quarter worth about $27,000. Golden State Wealth Management LLC raised its position 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 worth $28,000 after acquiring an additional 123 shares during the period. Finally, Plato Investment Management Ltd boosted its stake in Raymond James Financial by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock traded up $0.63 on Friday, reaching $153.24. The stock had a trading volume of 1,843,937 shares, compared to its average volume of 1,326,506. The business's 50 day moving average is $145.48 and its two-hundred day moving average is $149.85. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a market cap of $30.92 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.03.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts anticipate 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 will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial's dividend payout ratio is 19.25%.

Insider Buying and Selling

In other news, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider now directly owns 78,227 shares of the company's stock, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction on 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 now owns 74,586 shares of the company's stock, valued at $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on RJF. Citigroup lowered their price target on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their target price on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group lowered their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $153.82.

Raymond James Financial Company Profile

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.