Canada Pension Plan Investment Board Has $34.22 Million Holdings in Raymond James Financial, Inc. $RJF

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Raymond James Financial by 105.4%, owning 246,344 shares valued at $34.22 million as of the end of the first quarter.
• Raymond James Financial reported quarterly earnings of $2.18 per share, below the consensus estimate of $2.36, despite having a revenue of $3.40 billion which exceeded expectations.
• The company announced a quarterly dividend of $0.50 to be paid on October 15th, representing a 1.2% dividend yield and a payout ratio of 19.61%.

Canada Pension Plan Investment Board increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 105.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,344 shares of the financial services provider's stock after acquiring an additional 126,431 shares during the period. Canada Pension Plan Investment Board owned approximately 0.12% of Raymond James Financial worth $34,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. State of Wyoming increased its position in 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 valued at $667,000 after acquiring an additional 2,521 shares during the last quarter. Landscape Capital Management L.L.C. raised its holdings in 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 purchasing an additional 3,115 shares in the last quarter. Oarsman Capital Inc. increased its stake in Raymond James Financial by 2.0% in the 1st quarter. Oarsman Capital Inc. now owns 10,866 shares of the financial services provider's stock valued at $1,509,000 after buying an additional 212 shares during the period. OMERS ADMINISTRATION Corp boosted its position in shares of Raymond James Financial by 13.6% in the 1st 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 in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Raymond James Financial by 17.1% in the 1st quarter. BNP Paribas Financial Markets now owns 578,705 shares of the financial services provider's stock valued at $80,388,000 after purchasing an additional 84,582 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RJF shares. Wells Fargo & Company raised their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods boosted their price objective 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 upped their price objective on shares of 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. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a 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 analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Performance

NYSE:RJF traded down $5.46 during midday trading on Friday, hitting $165.63. The company's stock had a trading volume of 1,293,433 shares, compared to its average volume of 1,282,393. Raymond James Financial, Inc. has a fifty-two week low of $113.91 and a fifty-two week high of $174.32. The firm's 50 day moving average is $163.23 and its 200-day moving average is $150.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market cap of $33.02 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.37 and a beta of 1.04.

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

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued 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 of this dividend is Wednesday, October 1st. Raymond James Financial's payout ratio is presently 19.61%.

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.