Board of the Pension Protection Fund Has $1.14 Million Stock Position in Raymond James Financial, Inc. $RJF

Key Points

• The Board of the Pension Protection Fund increased its stake in Raymond James Financial by 27.6% in Q2, holding a total value of $1.14 million at the end of the reporting period.
• Raymond James Financial reported earnings of $2.18 per share for the last quarter, missing expectations of $2.36, while its revenue increased by 5.3% year-over-year.
• The company announced a quarterly dividend of $0.50, which represents an annualized dividend yield of 1.2%, with the payout ratio being 19.61%.

Board of the Pension Protection Fund grew its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 27.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,400 shares of the financial services provider's stock after purchasing an additional 1,600 shares during the quarter. Board of the Pension Protection Fund's holdings in Raymond James Financial were worth $1,135,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RJF. Victory Capital Management Inc. lifted its stake in Raymond James Financial by 1,502.0% in the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock valued at $261,587,000 after buying an additional 1,765,588 shares during the period. Nuveen LLC acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at approximately $111,368,000. Goldman Sachs Group Inc. raised its position in shares of Raymond James Financial by 44.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider's stock valued at $237,305,000 after acquiring an additional 525,134 shares during the period. Invesco Ltd. raised its holdings in Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock worth $403,038,000 after purchasing an additional 466,129 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Raymond James Financial by 165.9% in the first quarter. Ameriprise Financial Inc. now owns 686,647 shares of the financial services provider's stock worth $95,381,000 after purchasing an additional 428,396 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Down 2.3%

Shares of Raymond James Financial stock opened at $160.36 on Friday. The business's 50 day simple moving average is $167.78 and its 200 day simple moving average is $154.47. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The firm has a market cap of $31.97 billion, a PE ratio of 15.72, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

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

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is 19.61%.

Analysts Set New Price Targets

RJF has been the topic of several analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Raymond James Financial in a report on Wednesday. JMP Securities raised their price objective on Raymond James Financial from $180.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research report on Thursday. Wells Fargo & Company raised their price target on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, BMO Capital Markets started coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They set a "market perform" rating and a $180.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $172.20.

Raymond James Financial 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.

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