California Public Employees Retirement System Acquires 9,242 Shares of Raymond James Financial, Inc. $RJF

California Public Employees Retirement System raised its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 2.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 347,745 shares of the financial services provider’s stock after acquiring an additional 9,242 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Raymond James Financial worth $50,350,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Reflection Asset Management acquired a new position in shares of Raymond James Financial during the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the fourth quarter valued at $32,000. Harbor Investment Advisory LLC increased its holdings in Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the period. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial during the 4th quarter worth $35,000. Finally, DV Equities LLC bought a new position in Raymond James Financial during the 4th quarter worth $40,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on RJF shares. UBS Group reiterated a “neutral” rating and issued a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. TD Cowen lowered their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 28th. BMO Capital Markets lifted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $176.64.

Raymond James Financial Stock Performance

RJF stock opened at $168.19 on Tuesday. The firm has a market cap of $32.78 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $155.91 and a 200-day moving average price of $156.40. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Raymond James Financial 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.