Raymond James Financial, Inc. $RJF Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 32.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 169,931 shares of the financial services provider’s stock after purchasing an additional 41,652 shares during the period. Illinois Municipal Retirement Fund owned 0.08% of Raymond James Financial worth $26,062,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RJF. Victory Capital Management Inc. increased its holdings in shares of Raymond James Financial by 1,502.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock valued at $261,587,000 after acquiring an additional 1,765,588 shares during the last quarter. Nuveen LLC bought a new stake in Raymond James Financial during the first quarter valued at $111,368,000. Goldman Sachs Group Inc. increased its stake in Raymond James Financial by 44.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock valued at $237,305,000 after purchasing an additional 525,134 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Raymond James Financial by 19.1% during the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after purchasing an additional 466,129 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Raymond James Financial by 165.9% in the 1st quarter. Ameriprise Financial Inc. now owns 686,647 shares of the financial services provider’s stock worth $95,381,000 after buying an additional 428,396 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RJF. Cowen restated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. Finally, TD Cowen upped their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $177.20.

Raymond James Financial Stock Performance

NYSE RJF opened at $162.92 on Monday. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. 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 firm has a market capitalization of $32.48 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. The firm’s fifty day moving average price is $166.11 and its two-hundred day moving average price is $158.67.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the company earned $2.95 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate 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 was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s payout ratio is presently 19.44%.

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.