Public Sector Pension Investment Board Boosts Stock Position in Raymond James Financial, Inc. $RJF

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

A number of other hedge funds have also made changes to their positions in the stock. West Branch Capital LLC acquired a new stake in Raymond James Financial in the third quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in Raymond James Financial during the 3rd quarter worth $31,000. Quent Capital LLC bought a new stake in shares of Raymond James Financial in the 3rd quarter worth about $33,000. Princeton Global Asset Management LLC raised its stake in shares of Raymond James Financial by 69.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 100 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Raymond James Financial during the third quarter worth about $50,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RJF has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their target price on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. upped their price target on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Bank of America raised their price objective on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. Finally, JMP Securities boosted their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Trading Up 0.6%

NYSE:RJF opened at $158.42 on Friday. The firm has a market capitalization of $31.22 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.18 and a beta of 1.00. The business has a 50 day simple moving average of $166.12 and a 200 day simple moving average of $164.89. 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 12-month low of $117.57 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share 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%.The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.93 earnings per share. Equities research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

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