Virginia Retirement Systems ET AL purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,500 shares of the financial services provider’s stock, valued at approximately $379,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RJF. BT Investment Management Ltd bought a new position in shares of Raymond James Financial during the second quarter valued at about $98,773,000. Janus Henderson Group PLC raised its position in Raymond James Financial by 188.1% in the second quarter. Janus Henderson Group PLC now owns 1,206,006 shares of the financial services provider’s stock worth $96,746,000 after acquiring an additional 787,396 shares during the period. Wells Fargo & Company MN raised its position in Raymond James Financial by 25.1% in the second quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock worth $256,605,000 after acquiring an additional 642,474 shares during the period. Ameriprise Financial Inc. raised its position in Raymond James Financial by 489.1% in the second quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock worth $38,146,000 after acquiring an additional 391,701 shares during the period. Finally, Vanguard Group Inc. raised its position in Raymond James Financial by 2.5% in the second quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock worth $1,034,139,000 after acquiring an additional 319,457 shares during the period. 69.86% of the stock is currently owned by institutional investors.
In other news, Chairman Thomas A. James sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $85.98, for a total value of $17,196,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total transaction of $3,847,950.00. The disclosure for this sale can be found here. In the last three months, insiders sold 288,833 shares of company stock worth $24,856,957. Insiders own 11.18% of the company’s stock.
Shares of Raymond James Financial, Inc. (NYSE:RJF) traded down $0.45 during mid-day trading on Tuesday, reaching $89.04. 528,200 shares of the company’s stock traded hands, compared to its average volume of 779,631. The company has a market capitalization of $12,922.40, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.89 and a beta of 1.71. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. Raymond James Financial, Inc. has a twelve month low of $68.97 and a twelve month high of $91.29.
Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.15. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. analysts expect that Raymond James Financial, Inc. will post 5.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be given a $0.25 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. Raymond James Financial’s payout ratio is 20.32%.
Several brokerages have commented on RJF. Credit Suisse Group began coverage on shares of Raymond James Financial in a research report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 price objective on the stock. Buckingham Research lifted their price objective on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Wells Fargo & Company raised shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Thursday, September 14th. Finally, Zacks Investment Research raised shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Raymond James Financial presently has an average rating of “Buy” and a consensus target price of $88.57.
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Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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