Canada Pension Plan Investment Board Acquires Shares of 587,783 Raymond James Financial, Inc. $RJF

Canada Pension Plan Investment Board bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 587,783 shares of the financial services provider’s stock, valued at approximately $89,361,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. bought a new stake in Raymond James Financial during the 2nd quarter valued at about $2,180,699,000. First Trust Advisors LP boosted its position in Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after buying an additional 474,477 shares during the period. Victory Capital Management Inc. grew its stake in Raymond James Financial by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after acquiring an additional 21,856 shares in the last quarter. Bank of America Corp DE grew its stake in Raymond James Financial by 9.9% in the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after acquiring an additional 220,227 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after acquiring an additional 41,413 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group set a $184.00 price target on Raymond James Financial and gave the company a “neutral” rating in a report on Monday, July 27th. TD Cowen reduced their price objective on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Citizens Jmp lifted their target price on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley upped their target price on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.00.

Raymond James Financial Trading Up 1.2%

NYSE:RJF opened at $176.85 on Thursday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The firm has a market cap of $34.02 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.07 and a beta of 0.92. The firm has a 50-day simple moving average of $169.39 and a 200-day simple moving average of $157.93.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the company earned $2.18 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. Equities analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Company Profile

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.