Federation des caisses Desjardins du Quebec Acquires 6,868 Shares of Raymond James Financial, Inc. $RJF

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Raymond James Financial by 16.9%, acquiring an additional 6,868 shares to bring their total holdings to 47,614 shares, valued at approximately $6.6 million.
• Analysts have raised their target prices for Raymond James shares, with estimates now ranging from $163.00 to $180.00 and an average rating of "Hold" from market analysts.
• Raymond James recently declared a quarterly dividend of $0.50 per share, with a payout ratio of 19.61% and a dividend yield of 1.2% for the upcoming payment on October 15th.

Federation des caisses Desjardins du Quebec raised its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 16.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,614 shares of the financial services provider's stock after buying an additional 6,868 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Raymond James Financial were worth $6,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in RJF. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial during the 1st quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Raymond James Financial during the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC raised its holdings in shares of Raymond James Financial by 164.0% during the 1st 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 in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial during the 1st quarter worth approximately $33,000. Finally, TCTC Holdings LLC raised its holdings in shares of Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock worth $40,000 after acquiring an additional 121 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RJF. Keefe, Bruyette & Woods upped their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Morgan Stanley upped their price objective on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Raymond James Financial presently has an average rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Trading Down 3.2%

Shares of Raymond James Financial stock traded down $5.46 on Friday, reaching $165.63. The company had a trading volume of 1,293,452 shares, compared to its average volume of 839,264. The firm has a market cap of $33.02 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.36 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The firm's 50-day moving average price is $163.48 and its two-hundred day moving average price is $150.37. Raymond James Financial, Inc. has a 1 year low of $113.91 and a 1 year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter in the previous year, the company posted $2.39 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

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

About Raymond James Financial

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.