Northwest & Ethical Investments L.P. Grows Stake in Raymond James Financial, Inc. $RJF

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Raymond James Financial by 42.0%, now holding a total of 11,413 shares valued at approximately $1.58 million.
• Raymond James Financial reported $2.18 earnings per share for the last quarter, missing expectations by $0.18, while its revenue grew by 5.3% year-over-year to $3.40 billion.
• The company announced a quarterly dividend of $0.50, resulting in an annualized dividend yield of 1.2% and a payout ratio of 19.61%.

Northwest & Ethical Investments L.P. increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,413 shares of the financial services provider's stock after purchasing an additional 3,375 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Raymond James Financial were worth $1,585,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Mariner LLC boosted its position in shares of Raymond James Financial by 7.5% in the 4th quarter. Mariner LLC now owns 24,391 shares of the financial services provider's stock worth $3,789,000 after buying an additional 1,697 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Raymond James Financial by 6.4% during the 4th quarter. Guggenheim Capital LLC now owns 4,006 shares of the financial services provider's stock valued at $622,000 after acquiring an additional 241 shares in the last quarter. NewEdge Advisors LLC raised its position in Raymond James Financial by 2.2% during the fourth quarter. NewEdge Advisors LLC now owns 22,197 shares of the financial services provider's stock worth $3,448,000 after acquiring an additional 477 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Raymond James Financial by 6.7% in the fourth quarter. Canada Pension Plan Investment Board now owns 119,913 shares of the financial services provider's stock valued at $18,626,000 after purchasing an additional 7,504 shares in the last quarter. Finally, GeoWealth Management LLC grew its position in shares of Raymond James Financial by 23.0% in the fourth quarter. GeoWealth Management LLC now owns 829 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Trading Up 1.9%

Shares of RJF stock traded up $3.1490 during trading hours on Friday, hitting $165.1790. 677,938 shares of the company were exchanged, compared to its average volume of 901,746. The firm has a fifty day moving average of $159.87 and a 200 day moving average of $149.84. 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 firm has a market cap of $32.93 billion, a PE ratio of 16.19, a PEG ratio of 1.36 and a beta of 1.05.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its 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). The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $2.39 earnings per share. Analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is 19.61%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Morgan Stanley raised their price target on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. JMP Securities upped their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Bank of America lowered Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods boosted their target price 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 issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $163.80.

Insider Buying and Selling at Raymond James Financial

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

Raymond James Financial Profile

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.