Board of the Pension Protection Fund Has $1.14 Million Stock Position in Raymond James Financial, Inc. $RJF

Board of the Pension Protection Fund grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 27.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,400 shares of the financial services provider’s stock after purchasing an additional 1,600 shares during the quarter. Board of the Pension Protection Fund’s holdings in Raymond James Financial were worth $1,135,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RJF. D.A. Davidson & CO. increased its holdings in Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock worth $778,000 after buying an additional 197 shares during the last quarter. Abacus Planning Group Inc. acquired a new position in Raymond James Financial during the second quarter worth $222,000. Swedbank AB increased its stake in shares of Raymond James Financial by 173.0% during the 2nd quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock worth $4,846,000 after purchasing an additional 20,022 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock valued at $3,470,000 after purchasing an additional 3,035 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RJF. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday. JMP Securities increased their price target on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday. Morgan Stanley increased their price target on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price target on Raymond James Financial from $172.00 to $178.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $172.20.

Raymond James Financial Stock Down 2.3%

RJF stock opened at $160.36 on Friday. 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 stock has a market capitalization of $31.97 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.23 and a beta of 1.03. The business’s fifty day moving average price is $167.78 and its two-hundred day moving average price is $154.47. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66.

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

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

About Raymond James Financial

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.