Public Employees Retirement System of Ohio Reduces Stake in Raymond James Financial, Inc. $RJF

Public Employees Retirement System of Ohio cut its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,487 shares of the financial services provider’s stock after selling 1,154 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of Raymond James Financial worth $15,718,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in shares of Raymond James Financial by 3.6% during the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 197 shares during the last quarter. Abacus Planning Group Inc. acquired a new stake in Raymond James Financial during the 2nd quarter worth about $222,000. Golden State Wealth Management LLC grew its position in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 123 shares during the period. Swedbank AB raised its stake in shares of Raymond James Financial by 173.0% during the 2nd quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock valued at $4,846,000 after buying an additional 20,022 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Raymond James Financial by 13.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock valued at $3,470,000 after buying an additional 3,035 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

NYSE:RJF opened at $172.11 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market capitalization of $34.32 billion, a PE ratio of 16.87, a P/E/G ratio of 1.41 and a beta of 1.04. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The company has a fifty day moving average of $167.10 and a two-hundred day moving average of $152.51.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the firm earned $2.39 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is 19.61%.

Analyst Upgrades and Downgrades

Several analysts recently commented on RJF shares. JMP Securities raised their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. Citigroup reaffirmed a “neutral” rating and set a $180.00 price objective (up previously from $170.00) on shares of Raymond James Financial in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $165.30.

Raymond James Financial Company 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.