Raymond James (NYSE:RJF) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in Raymond James (NYSE:RJF) by 12.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,120 shares of the financial services provider’s stock after purchasing an additional 14,166 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of Raymond James worth $15,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in shares of Raymond James by 25.4% during the 4th quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after buying an additional 89,981 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Raymond James by 36.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 2,328 shares during the last quarter. Norden Group LLC lifted its stake in Raymond James by 3,257.7% in the 1st quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,419 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Raymond James by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after purchasing an additional 11,427 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Raymond James by 1,138.5% during the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock valued at $2,445,000 after acquiring an additional 17,499 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RJF. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. TD Cowen increased their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. UBS Group dropped their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group boosted their target price on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target of $130.70.

Raymond James Stock Performance

Shares of NYSE RJF opened at $124.67 on Tuesday. The company has a 50-day simple moving average of $115.47 and a 200-day simple moving average of $120.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market cap of $25.84 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

About Raymond James

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.