Board of the Pension Protection Fund Decreases Stake in Raymond James Financial, Inc. $RJF

Board of the Pension Protection Fund lowered its stake in Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 95.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 400 shares of the financial services provider’s stock after selling 7,900 shares during the period. Board of the Pension Protection Fund’s holdings in Raymond James Financial were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC raised its position in Raymond James Financial by 5.5% during the 4th quarter. GAMMA Investing LLC now owns 6,707 shares of the financial services provider’s stock worth $1,077,000 after buying an additional 348 shares during the last quarter. CTC Alternative Strategies Ltd. boosted its holdings in shares of Raymond James Financial by 157.1% in the 3rd quarter. CTC Alternative Strategies Ltd. now owns 3,600 shares of the financial services provider’s stock valued at $621,000 after acquiring an additional 2,200 shares during the last quarter. Allworth Financial LP increased its stake in shares of Raymond James Financial by 18.3% in the third quarter. Allworth Financial LP now owns 977 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 151 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Raymond James Financial by 38.6% in the third quarter. Swiss Life Asset Management Ltd now owns 35,425 shares of the financial services provider’s stock worth $6,114,000 after acquiring an additional 9,867 shares during the period. Finally, Groupama Asset Managment purchased a new position in shares of Raymond James Financial during the third quarter worth $357,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

NYSE:RJF opened at $143.02 on Friday. The stock has a 50 day moving average of $160.45 and a two-hundred day moving average of $162.68. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The firm has a market cap of $28.19 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.06 and a beta of 1.00. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF – Get Free Report) last posted its quarterly 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. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the firm posted $2.93 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. Raymond James Financial’s dividend payout ratio is currently 21.14%.

Wall Street Analyst Weigh In

RJF has been the topic of a number of recent research reports. Bank of America upped their target price 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. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Barclays started coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price target for the company. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Finally, UBS Group set a $176.00 target price on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $182.17.

View Our Latest Analysis on Raymond James Financial

About Raymond James Financial

(Free Report)

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.

Further Reading

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