Bp Plc acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, Holdings Channel reports. The institutional investor acquired 15,000 shares of the financial services provider’s stock, valued at approximately $1,203,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Raymond James Financial by 24.4% in the first quarter. Vanguard Group Inc. now owns 12,571,840 shares of the financial services provider’s stock valued at $958,728,000 after buying an additional 2,462,838 shares in the last quarter. BlackRock Inc. increased its position in shares of Raymond James Financial by 3,818.6% in the first quarter. BlackRock Inc. now owns 8,358,285 shares of the financial services provider’s stock valued at $637,402,000 after buying an additional 8,144,989 shares in the last quarter. State Street Corp increased its position in shares of Raymond James Financial by 44.2% in the first quarter. State Street Corp now owns 5,930,879 shares of the financial services provider’s stock valued at $452,297,000 after buying an additional 1,819,172 shares in the last quarter. Boston Partners increased 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 valued at $414,680,000 after buying an additional 489,610 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of 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 valued at $194,943,000 after buying an additional 175,601 shares in the last quarter. Institutional investors and hedge funds own 70.87% of the company’s stock.

Shares of Raymond James Financial, Inc. (NYSE RJF) opened at 79.35 on Friday. Raymond James Financial, Inc. has a 52-week low of $55.79 and a 52-week high of $85.97. The firm has a 50-day moving average price of $81.89 and a 200-day moving average price of $77.55. The firm has a market capitalization of $11.40 billion, a P/E ratio of 18.87 and a beta of 1.65.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. Raymond James Financial’s revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that Raymond James Financial, Inc. will post $5.07 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.11%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.90%.

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Several equities analysts have recently issued reports on RJF shares. Buckingham Research reiterated a “buy” rating and set a $94.00 price objective (up from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Nomura upped their target price on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Wells Fargo & Company 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 report on Monday, June 12th. Instinet restated a “buy” rating and issued a $90.00 target price (up from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research report on Wednesday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $87.50.

In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,880 shares of the firm’s stock in a transaction that occurred 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 $219,900. The disclosure for this sale can be found here. Insiders have sold 38,880 shares of company stock worth $3,213,734 over the last three months. 11.18% of the stock is owned by insiders.

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

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