Northpointe Capital LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, Holdings Channel reports. The fund acquired 54,216 shares of the financial services provider’s stock, valued at approximately $4,349,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Independent Portfolio Consultants Inc. boosted its position in Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock worth $138,000 after buying an additional 40 shares during the period. YorkBridge Wealth Partners LLC boosted its position in Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock worth $102,000 after buying an additional 52 shares during the period. Louisiana State Employees Retirement System boosted its position in Raymond James Financial by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the financial services provider’s stock worth $642,000 after buying an additional 100 shares during the period. SPC Financial Inc. boosted its position in Raymond James Financial by 1.3% in the second quarter. SPC Financial Inc. now owns 8,100 shares of the financial services provider’s stock worth $650,000 after buying an additional 100 shares during the period. Finally, Arizona State Retirement System boosted its position in Raymond James Financial by 0.3% in the second quarter. Arizona State Retirement System now owns 31,800 shares of the financial services provider’s stock worth $2,551,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 70.11% of the company’s stock.

Shares of Raymond James Financial, Inc. (RJF) opened at 80.34 on Wednesday. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of 19.11 and a beta of 1.65. Raymond James Financial, Inc. has a 1-year low of $55.42 and a 1-year high of $85.97. The company has a 50-day moving average of $82.07 and a 200-day moving average of $77.64.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. Raymond James Financial’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. On average, equities research analysts expect that Raymond James Financial, Inc. will post $5.07 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.10%. The ex-dividend date was Thursday, June 29th. Raymond James Financial’s dividend payout ratio is currently 20.90%.

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A number of research analysts have weighed in on the stock. Instinet cut their price objective on shares of Raymond James Financial to $89.00 and set a “buy” rating on the stock in a research report on Thursday, May 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a report on Wednesday, May 24th. Buckingham Research restated a “buy” rating and issued a $94.00 price target (up from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Wells Fargo & Company restated a “market perform” rating and issued a $85.00 price target (up from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Finally, BidaskClub cut shares of Raymond James Financial from a “buy” rating to a “hold” rating in a report on Sunday, August 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $87.50.

In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total value of $2,744,610.00. Following the completion of the transaction, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,880 shares of Raymond James Financial stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $73.30, for a total value of $137,804.00. Following the completion of the transaction, the executive vice president now directly owns 3,000 shares of the company’s stock, valued at $219,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,880 shares of company stock valued at $3,213,734. 11.18% of the stock is currently owned by corporate insiders.

About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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