Raymond James Financial, Inc. $RJF Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its position in Raymond James Financial, Inc. (NYSE:RJF) by 139.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,267 shares of the financial services provider’s stock after buying an additional 51,928 shares during the quarter. Public Sector Pension Investment Board’s holdings in Raymond James Financial were worth $15,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RJF. West Branch Capital LLC purchased a new position in shares of Raymond James Financial during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in Raymond James Financial in the 3rd quarter valued at $31,000. Quent Capital LLC purchased a new position in shares of Raymond James Financial during the 3rd quarter worth $33,000. Princeton Global Asset Management LLC boosted its holdings in shares of Raymond James Financial by 69.0% during the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 100 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Raymond James Financial in the third quarter valued at $50,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets raised their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. upped their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $182.17.

Insiders Place Their Bets

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the transaction, the insider owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.58% of the company’s stock.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $158.42 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The company has a market capitalization of $31.22 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.18 and a beta of 1.00. The business has a 50-day moving average of $166.12 and a 200-day moving average of $164.89.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.83 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.Raymond James Financial’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.93 EPS. On average, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. Raymond James Financial’s payout ratio is currently 21.14%.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.