97,918 Shares in Raymond James Financial, Inc. $RJF Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, HoldingsChannel.com reports. The fund bought 97,918 shares of the financial services provider’s stock, valued at approximately $14,886,000.

Several other hedge funds also recently modified their holdings of the company. Great Valley Advisor Group Inc. grew its holdings in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after buying an additional 61 shares in the last quarter. Collective Family Office LLC boosted its position in Raymond James Financial by 3.0% during the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Raymond James Financial by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 71 shares during the last quarter. Parallel Advisors LLC grew its stake in Raymond James Financial by 4.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 71 shares during the period. Finally, Meeder Advisory Services Inc. grew its stake in Raymond James Financial by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 72 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RJF shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. UBS Group set a $184.00 target price on Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Barclays increased their target price on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Citizens Jmp lifted their price target on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and a consensus price target of $181.00.

Insider Activity

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the transaction, the insider owned 45,114 shares in the company, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Up 0.1%

Shares of NYSE RJF opened at $179.50 on Monday. The stock has a market capitalization of $34.53 billion, a PE ratio of 15.65, a P/E/G ratio of 1.10 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $170.25 and a 200-day moving average of $157.99. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial’s dividend payout ratio is currently 18.83%.

Raymond James Financial Company Profile

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.