Virginia Retirement Systems ET AL Takes Position in Raymond James Financial, Inc. (RJF)

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.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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