Ameriprise Financial Inc. boosted its stake in shares of Raymond James Financial Inc. (NYSE:RJF) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 343,881 shares of the company’s stock after buying an additional 7,326 shares during the period. Ameriprise Financial Inc. owned approximately 0.24% of Raymond James Financial worth $16,956,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of RJF. Montag & Caldwell LLC increased its stake in shares of Raymond James Financial by 0.5% in the second quarter. Montag & Caldwell LLC now owns 19,011 shares of the company’s stock valued at $937,000 after buying an additional 90 shares during the last quarter. Creative Planning increased its stake in shares of Raymond James Financial by 4.6% in the second quarter. Creative Planning now owns 3,378 shares of the company’s stock valued at $167,000 after buying an additional 149 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Raymond James Financial by 0.9% in the second quarter. Utah Retirement Systems now owns 23,047 shares of the company’s stock valued at $1,136,000 after buying an additional 200 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Raymond James Financial by 3.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,556 shares of the company’s stock valued at $421,000 after buying an additional 281 shares during the last quarter. Finally, SPC Financial Inc. increased its stake in shares of Raymond James Financial by 4.7% in the second quarter. SPC Financial Inc. now owns 8,900 shares of the company’s stock valued at $439,000 after buying an additional 400 shares during the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Shares of Raymond James Financial Inc. (NYSE:RJF) traded up 1.35% on Thursday, reaching $58.56. 633,542 shares of the company traded hands. The firm has a 50-day moving average price of $56.73 and a 200 day moving average price of $52.26. Raymond James Financial Inc. has a one year low of $39.84 and a one year high of $59.81. The company has a market capitalization of $8.27 billion, a PE ratio of 17.49 and a beta of 1.50.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.03. Raymond James Financial had a net margin of 9.02% and a return on equity of 10.20%. The firm earned $1.36 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Equities analysts forecast that Raymond James Financial Inc. will post $3.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.80 annualized dividend and a yield of 1.38%. Raymond James Financial’s payout ratio is 23.88%.

Several brokerages have commented on RJF. Nomura lowered their target price on shares of Raymond James Financial from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, July 11th. Zacks Investment Research downgraded shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Finally, Credit Suisse Group AG set a $56.00 target price on shares of Raymond James Financial and gave the company a “buy” rating in a research note on Wednesday, July 20th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.90.

In other Raymond James Financial news, CFO Jeffrey P. Julien sold 18,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $57.62, for a total transaction of $1,071,732.00. Following the completion of the transaction, the chief financial officer now owns 46,407 shares in the company, valued at approximately $2,673,971.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider George Catanese sold 4,158 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $53.89, for a total transaction of $224,074.62. Following the transaction, the insider now owns 8,739 shares of the company’s stock, valued at approximately $470,944.71. The disclosure for this sale can be found here. Company insiders own 11.21% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.

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