56,969 Shares in Raymond James Financial, Inc. $RJF Bought by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has acquired a new position in Raymond James Financial, purchasing 56,969 shares valued at approximately $7.9 million in the first quarter.
• Raymond James Financial's latest quarterly earnings were disappointing, reporting an EPS of $2.18, missing the consensus estimate by $0.18, although revenue increased by 5.3% year-over-year.
• The company has declared a quarterly dividend of $0.50, with an annualized dividend yield of 1.2%, set for payment on October 15th.

Magnetar Financial LLC bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,969 shares of the financial services provider's stock, valued at approximately $7,914,000.

A number of other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its stake in shares of Raymond James Financial by 105.4% during the first quarter. Canada Pension Plan Investment Board now owns 246,344 shares of the financial services provider's stock worth $34,220,000 after buying an additional 126,431 shares during the period. State of Wyoming increased its stake in shares of Raymond James Financial by 110.6% during the first quarter. State of Wyoming now owns 4,801 shares of the financial services provider's stock worth $667,000 after buying an additional 2,521 shares during the period. Landscape Capital Management L.L.C. increased its stake in shares of Raymond James Financial by 23.5% during the first quarter. Landscape Capital Management L.L.C. now owns 16,358 shares of the financial services provider's stock worth $2,272,000 after buying an additional 3,115 shares during the period. Oarsman Capital Inc. increased its stake in shares of Raymond James Financial by 2.0% during the first quarter. Oarsman Capital Inc. now owns 10,866 shares of the financial services provider's stock worth $1,509,000 after buying an additional 212 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of Raymond James Financial by 13.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 19,874 shares of the financial services provider's stock worth $2,761,000 after buying an additional 2,382 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock traded down $2.33 during trading on Wednesday, reaching $165.99. The company's stock had a trading volume of 201,950 shares, compared to its average volume of 1,284,435. The company has a 50-day moving average price of $162.57 and a two-hundred day moving average price of $150.21. The firm has a market cap of $33.09 billion, a PE ratio of 16.27, a P/E/G ratio of 1.39 and a beta of 1.04. Raymond James Financial, Inc. has a fifty-two week low of $113.91 and a fifty-two week high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.39 earnings per share. On average, analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RJF. JMP Securities upped their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Morgan Stanley increased their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $163.80.

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.