Raymond James Financial, Inc. $RJF Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp has increased its stake in Raymond James Financial, Inc. by 13.6%, bringing its total holdings to 19,874 shares valued at approximately $2.76 million.
• Several institutional investors, including D.A. Davidson & CO. and Golden State Wealth Management LLC, have also recently increased their investments in Raymond James Financial, with a collective 83.83% of the stock owned by these entities.
• Raymond James Financial is set to pay a quarterly dividend of $0.50 per share on October 15, 2023, representing an annualized dividend yield of 1.2%.

OMERS ADMINISTRATION Corp raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,874 shares of the financial services provider's stock after purchasing an additional 2,382 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Raymond James Financial were worth $2,761,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. increased its holdings in shares of Raymond James Financial by 3.6% in the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock valued at $778,000 after acquiring an additional 197 shares during the period. Golden State Wealth Management LLC boosted its holdings 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 in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Raymond James Financial during the fourth quarter valued at about $9,366,000. Assenagon Asset Management S.A. lifted its stake in shares of Raymond James Financial by 13.8% during the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after buying an additional 3,035 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Raymond James Financial by 0.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after buying an additional 3,691 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RJF has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. JMP Securities raised their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Raymond James Financial currently has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Performance

RJF traded down $2.32 on Wednesday, reaching $166.00. The stock had a trading volume of 368,912 shares, compared to its average volume of 1,285,375. The business's 50-day moving average price is $162.57 and its two-hundred day moving average price is $150.21. 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, Inc. has a 12-month low of $113.91 and a 12-month high of $174.32. The company has a market cap of $33.10 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate 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 firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.39 earnings per share. Sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 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.