Caisse de depot et placement du Quebec purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 226,388 shares of the financial services provider's stock, valued at approximately $34,418,000. Caisse de depot et placement du Quebec owned approximately 0.12% of Raymond James Financial as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of RJF. Man Group plc acquired a new position in shares of Raymond James Financial in the 2nd quarter worth $6,939,000. Western Wealth Management LLC acquired a new stake in shares of Raymond James Financial during the second quarter worth $1,492,000. Jupiter Topco LLC purchased a new stake in shares of Raymond James Financial during the second quarter valued at $3,406,000. EFG International AG acquired a new position in shares of Raymond James Financial in the 2nd quarter valued at $768,000. Finally, Ancora Advisors LLC acquired a new position in shares of Raymond James Financial in the 2nd quarter valued at $6,536,000. 83.83% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on RJF shares. Argus upped their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Citizens Jmp lifted their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 23rd. Weiss Ratings restated a "buy (b-)" rating on shares of Raymond James Financial in a report on Monday, August 17th. Barclays upped their price target on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Finally, TD Cowen lowered their price objective 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. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Raymond James Financial has an average rating of "Hold" and an average price target of $181.00.
View Our Latest Stock Report on Raymond James Financial
Insider Buying and Selling
In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction on 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 owned 45,114 shares of the company's stock, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is owned by corporate insiders.
Raymond James Financial Trading Up 1.9%
Shares of NYSE RJF opened at $179.50 on Friday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73. The firm has a market capitalization of $34.53 billion, a PE ratio of 15.65, a PEG ratio of 1.08 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $170.25 and a two-hundred day moving average price of $158.11.
Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion for 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 in the previous year, the business posted $2.18 EPS. As a group, analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.
Raymond James Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.54 dividend. 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 is currently 18.83%.
Raymond James Financial Company Profile
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Free Report)
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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