National Pension Service Increases Stock Holdings in Raymond James (NYSE:RJF)

National Pension Service boosted its stake in shares of Raymond James (NYSE:RJF - Free Report) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 292,577 shares of the financial services provider's stock after acquiring an additional 6,221 shares during the period. National Pension Service owned 0.14% of Raymond James worth $35,829,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RJF. Norden Group LLC increased its holdings in shares of Raymond James by 75.5% in the first quarter. Norden Group LLC now owns 4,439 shares of the financial services provider's stock worth $570,000 after purchasing an additional 1,909 shares during the last quarter. Private Advisor Group LLC increased its stake in Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider's stock worth $344,000 after acquiring an additional 93 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Raymond James by 10.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,227 shares of the financial services provider's stock worth $3,496,000 after acquiring an additional 2,616 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Raymond James by 3.5% during the 1st quarter. Nordea Investment Management AB now owns 15,628 shares of the financial services provider's stock valued at $2,001,000 after acquiring an additional 526 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Raymond James by 0.9% in the first quarter. Mutual of America Capital Management LLC now owns 33,506 shares of the financial services provider's stock valued at $4,303,000 after purchasing an additional 286 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Trading Down 2.7 %

Shares of RJF traded down $4.36 during trading hours on Thursday, reaching $156.43. 1,153,406 shares of the company traded hands, compared to its average volume of 1,146,851. The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 0.73 and a beta of 0.99. Raymond James has a 12-month low of $98.72 and a 12-month high of $161.76. The stock's fifty day moving average price is $129.38 and its 200 day moving average price is $122.75. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. Sell-side analysts forecast that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Tuesday, October 1st. Raymond James's dividend payout ratio (DPR) is presently 18.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RJF shares. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reduced their price objective 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. Wells Fargo & Company raised their price objective on Raymond James from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their target price on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Finally, TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $140.91.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares of the company's stock, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.74% of the stock is owned by company insiders.

Raymond James Profile

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.