Public Sector Pension Investment Board Buys 2,007 Shares of Raymond James (NYSE:RJF)

Public Sector Pension Investment Board lifted its stake in Raymond James (NYSE:RJF) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,698 shares of the financial services provider’s stock after acquiring an additional 2,007 shares during the period. Public Sector Pension Investment Board’s holdings in Raymond James were worth $3,918,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in RJF. DRW Securities LLC acquired a new position in shares of Raymond James during the second quarter worth approximately $200,000. ProShare Advisors LLC lifted its holdings in shares of Raymond James by 31.0% during the second quarter. ProShare Advisors LLC now owns 52,606 shares of the financial services provider’s stock worth $6,503,000 after buying an additional 12,435 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Raymond James by 2.4% during the second quarter. Ensign Peak Advisors Inc now owns 66,893 shares of the financial services provider’s stock worth $8,269,000 after buying an additional 1,585 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Raymond James by 6.2% during the second quarter. Sei Investments Co. now owns 902,501 shares of the financial services provider’s stock worth $111,558,000 after buying an additional 52,587 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Raymond James by 4.4% during the second quarter. Pacer Advisors Inc. now owns 13,499 shares of the financial services provider’s stock worth $1,669,000 after buying an additional 569 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction dated Monday, August 12th. The stock was 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 directly owns 35,380 shares in the company, valued at $3,879,063.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. lowered their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. TD Cowen boosted their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Jefferies Financial Group boosted their price objective on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, The Goldman Sachs Group lowered their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $131.60.

Raymond James Stock Performance

Shares of NYSE:RJF opened at $122.46 on Friday. The business’s fifty day moving average price is $116.43 and its two-hundred day moving average price is $120.46. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The stock has a market capitalization of $25.22 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the business posted $1.85 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.47%. Raymond James’s dividend payout ratio (DPR) is 21.77%.

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.