Utah Retirement Systems maintained its stake in Raymond James Financial, Inc. (NYSE:RJF) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,047 shares of the financial services provider’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Raymond James Financial were worth $1,757,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in RJF. Boston Partners boosted its position in shares of Raymond James Financial by 9.9% in the first quarter. Boston Partners now owns 5,437,723 shares of the financial services provider’s stock worth $414,680,000 after buying an additional 489,610 shares during the last quarter. State Street Corp boosted its position in shares of Raymond James Financial by 2.3% in the fourth quarter. State Street Corp now owns 4,111,707 shares of the financial services provider’s stock worth $284,819,000 after buying an additional 93,830 shares during the last quarter. Wells Fargo & Company MN raised its position in Raymond James Financial by 7.4% in the first quarter. Wells Fargo & Company MN now owns 2,556,283 shares of the financial services provider’s stock worth $194,943,000 after buying an additional 175,601 shares in the last quarter. Prudential Financial Inc. raised its position in Raymond James Financial by 6.0% in the first quarter. Prudential Financial Inc. now owns 1,559,596 shares of the financial services provider’s stock worth $118,935,000 after buying an additional 88,017 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Raymond James Financial by 9.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,556,193 shares of the financial services provider’s stock worth $107,798,000 after buying an additional 130,650 shares in the last quarter. Institutional investors own 70.80% of the company’s stock.
Raymond James Financial, Inc. (NYSE:RJF) traded down 1.1509% during mid-day trading on Tuesday, hitting $78.1501. 154,077 shares of the company were exchanged. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 20.4154 and a beta of 1.63. Raymond James Financial, Inc. has a 12-month low of $46.30 and a 12-month high of $81.92. The stock’s 50 day moving average is $75.22 and its 200-day moving average is $75.16.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.14. Raymond James Financial had a return on equity of 12.81% and a net margin of 9.26%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts predict that Raymond James Financial, Inc. will post $5.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, July 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, June 29th. Raymond James Financial’s dividend payout ratio (DPR) is currently 22.92%.
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Several equities analysts recently commented on RJF shares. Nomura reaffirmed a “buy” rating and set a $91.00 price target on shares of Raymond James Financial in a research report on Sunday, April 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a research note on Thursday, April 6th. Instinet decreased their price objective on shares of Raymond James Financial to $89.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $85.00 target price (up from $82.50) on shares of Raymond James Financial in a research note on Monday, June 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Raymond James Financial currently has a consensus rating of “Buy” and a consensus price target of $81.67.
In other news, EVP Jonathan N. Santelli sold 1,880 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $73.30, for a total transaction of $137,804.00. Following the sale, the executive vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $219,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.18% of the company’s stock.
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.
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