Caisse DE Depot ET Placement DU Quebec Has $29.41 Million Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Raymond James Financial by 187.8% in Q1, now owning approximately 211,724 shares valued at $29.4 million.
• Multiple firms, including JMP Securities and JPMorgan Chase & Co., have raised their price targets for RJF, with an average target price now set at $163.80.
• Raymond James recently declared a quarterly dividend of $0.50 per share, representing an annual yield of 1.2%, with a payout ratio of 19.61%.

Caisse DE Depot ET Placement DU Quebec grew its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 187.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,724 shares of the financial services provider's stock after acquiring an additional 138,154 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.10% of Raymond James Financial worth $29,411,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Synovus Financial Corp lifted its position in shares of Raymond James Financial by 99.0% in the 1st quarter. Synovus Financial Corp now owns 3,891 shares of the financial services provider's stock worth $541,000 after acquiring an additional 1,936 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in shares of Raymond James Financial by 28.5% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 48,543 shares of the financial services provider's stock worth $6,743,000 after buying an additional 10,772 shares in the last quarter. Quantitative Investment Management LLC raised its holdings in shares of Raymond James Financial by 427.1% in the 1st quarter. Quantitative Investment Management LLC now owns 7,696 shares of the financial services provider's stock worth $1,069,000 after buying an additional 6,236 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Raymond James Financial by 2,456.0% in the 1st quarter. Jump Financial LLC now owns 62,468 shares of the financial services provider's stock worth $8,677,000 after buying an additional 60,024 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Raymond James Financial in the 1st quarter worth approximately $1,695,000. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Trading Up 0.5%

Shares of NYSE:RJF traded up $0.81 during midday trading on Friday, hitting $169.52. The company had a trading volume of 843,298 shares, compared to its average volume of 857,490. Raymond James Financial, Inc. has a 12 month low of $113.91 and a 12 month 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. The stock has a market cap of $33.80 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.39 and a beta of 1.05. The firm has a fifty day simple moving average of $161.85 and a 200 day simple moving average of $150.09.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted 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 business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.39 earnings per share. On average, analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business 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. 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price 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 increased their target price 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 increased their target price 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. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Finally, JMP Securities raised their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Raymond James Financial presently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Company 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.