Raymond James Financial, Inc. $RJF Stock Position Increased by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board increased its stake in Raymond James Financial by 3.8% in Q1, holding 49,295 shares worth approximately $6.85 million at the end of the quarter.
• The company has a strong institutional backing, with hedge funds and institutional investors owning 83.83% of its stock.
• Raymond James reported Q2 earnings of $2.18 per share, missing estimates by $0.18, and announced a quarterly dividend of $0.50, yielding 1.2% annually.

Public Sector Pension Investment Board lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,295 shares of the financial services provider's stock after buying an additional 1,788 shares during the quarter. Public Sector Pension Investment Board's holdings in Raymond James Financial were worth $6,848,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new stake in Raymond James Financial during the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC increased its holdings in 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 purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in Raymond James Financial during the 1st quarter worth approximately $33,000. Finally, TCTC Holdings LLC increased its holdings in 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 purchasing an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.54% of the company's stock.

Raymond James Financial Stock Performance

RJF stock traded down $0.2580 during trading on Tuesday, reaching $164.1020. 1,047,865 shares of the company's stock were exchanged, compared to its average volume of 1,317,002. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32. The company's fifty day moving average price is $158.57 and its 200-day moving average price is $149.91. The firm has a market cap of $32.72 billion, a PE ratio of 16.09, a P/E/G ratio of 1.34 and a beta of 1.05.

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

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's payout ratio is 19.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RJF shares. Wells Fargo & Company boosted their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Morgan Stanley boosted their price target on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Bank of America downgraded Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, Citigroup reiterated 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 issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and an average target price 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.