Raymond James Financial, Inc. (RJF) Stake Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 41.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,100 shares of the financial services provider’s stock after buying an additional 13,200 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Raymond James Financial were worth $3,618,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RJF. Global X Management Co. LLC boosted its holdings in shares of Raymond James Financial by 99.3% during the second quarter. Global X Management Co. LLC now owns 4,612 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 2,298 shares during the period. BP PLC purchased a new stake in Raymond James Financial in the second quarter worth about $1,203,000. Seven Bridges Advisors LLC lifted its holdings in Raymond James Financial by 22.2% in the second quarter. Seven Bridges Advisors LLC now owns 12,067 shares of the financial services provider’s stock worth $968,000 after buying an additional 2,194 shares during the period. Retirement Systems of Alabama lifted its holdings in Raymond James Financial by 0.5% in the second quarter. Retirement Systems of Alabama now owns 62,148 shares of the financial services provider’s stock worth $4,986,000 after buying an additional 334 shares during the period. Finally, Korea Investment CORP lifted its holdings in Raymond James Financial by 1.1% in the second quarter. Korea Investment CORP now owns 87,513 shares of the financial services provider’s stock worth $7,020,000 after buying an additional 924 shares during the period. 70.03% of the stock is currently owned by hedge funds and other institutional investors.

In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the transaction, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the transaction, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. Company insiders own 11.18% of the company’s stock.

Several analysts have commented on the stock. BidaskClub upgraded shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a report on Tuesday, August 29th. Zacks Investment Research lowered shares of Raymond James Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Instinet lowered their target price on shares of Raymond James Financial to $89.00 and set a “buy” rating for the company in a report on Thursday, May 25th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $85.00 price target (up previously from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $88.50.

TRADEMARK VIOLATION NOTICE: “Raymond James Financial, Inc. (RJF) Stake Increased by Canada Pension Plan Investment Board” was posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.truebluetribune.com/2017/09/09/canada-pension-plan-investment-board-has-3-62-million-stake-in-raymond-james-financial-inc-rjf.html.

Shares of Raymond James Financial, Inc. (NYSE:RJF) traded up 0.68% during mid-day trading on Friday, reaching $75.32. 644,937 shares of the company’s stock traded hands. Raymond James Financial, Inc. has a 12-month low of $56.06 and a 12-month high of $85.97. The company’s 50 day moving average is $80.21 and its 200 day moving average is $77.74. The company has a market cap of $10.82 billion, a P/E ratio of 17.91 and a beta of 1.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. On average, analysts predict that Raymond James Financial, Inc. will post $5.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, September 29th. Raymond James Financial’s dividend payout ratio is currently 20.90%.

About Raymond James Financial

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)

Receive News & Ratings for Raymond James Financial Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Raymond James Financial Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

five × two =