Korea Investment CORP boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 87,513 shares of the financial services provider’s stock after buying an additional 924 shares during the period. Korea Investment CORP’s holdings in Raymond James Financial were worth $7,020,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Independent Portfolio Consultants Inc. raised its stake in shares of Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock worth $138,000 after buying an additional 40 shares during the last quarter. YorkBridge Wealth Partners LLC increased its position in Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock valued at $102,000 after buying an additional 52 shares during the period. Louisiana State Employees Retirement System increased its position in Raymond James Financial by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the financial services provider’s stock valued at $642,000 after buying an additional 100 shares during the period. SPC Financial Inc. increased its position in Raymond James Financial by 1.3% in the second quarter. SPC Financial Inc. now owns 8,100 shares of the financial services provider’s stock valued at $650,000 after buying an additional 100 shares during the period. Finally, ProShare Advisors LLC increased its position in Raymond James Financial by 0.6% in the first quarter. ProShare Advisors LLC now owns 29,433 shares of the financial services provider’s stock valued at $2,245,000 after buying an additional 173 shares during the period. 70.87% of the stock is currently owned by institutional investors.

Raymond James Financial, Inc. (NYSE:RJF) opened at 79.85 on Friday. The firm has a 50 day moving average of $81.82 and a 200 day moving average of $77.50. The firm has a market cap of $11.48 billion, a P/E ratio of 19.00 and a beta of 1.65. Raymond James Financial, Inc. has a 1-year low of $55.42 and a 1-year high of $85.97.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts expect that Raymond James Financial, Inc. will post $5.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, June 29th. Raymond James Financial’s dividend payout ratio is presently 20.90%.

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RJF has been the subject of several research reports. BidaskClub downgraded shares of Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Instinet restated a “buy” rating and issued a $90.00 price target (up previously from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Nomura boosted their price target on shares of Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Buckingham Research restated a “buy” rating and issued a $94.00 price target (up previously from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a research note on Wednesday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Raymond James Financial has a consensus rating of “Buy” and a consensus target price of $87.50.

In other news, CEO Paul C. Reilly sold 33,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the transaction, the chief executive officer now owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,880 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $73.30, for a total transaction of $137,804.00. Following the completion of the transaction, the executive vice president now directly owns 3,000 shares in the company, valued at approximately $219,900. The disclosure for this sale can be found here. In the last three months, insiders sold 38,880 shares of company stock worth $3,213,734. Insiders own 11.18% of the company’s stock.

Raymond James Financial Company Profile

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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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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