Caisse de depot et placement du Quebec Invests $34.42 Million in Raymond James Financial, Inc. $RJF

Caisse de depot et placement du Quebec purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 226,388 shares of the financial services provider’s stock, valued at approximately $34,418,000.

Other large investors have also recently bought and sold shares of the company. Reflection Asset Management bought a new position in Raymond James Financial during the fourth quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial during the 4th quarter valued at about $35,000. Jones Financial Companies Lllp acquired a new stake in Raymond James Financial in the 2nd quarter worth approximately $36,000. DV Equities LLC bought a new stake in Raymond James Financial during the fourth quarter worth approximately $40,000. Finally, Steigerwald Gordon & Koch Inc. grew its holdings in Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $179.50 on Friday. The business has a 50 day simple moving average of $170.25 and a 200 day simple moving average of $158.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The company has a market capitalization of $34.53 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.08 and a beta of 0.92. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted $2.18 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, sell-side analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.83%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Monday, July 27th. BMO Capital Markets restated a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. TD Cowen decreased their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Finally, Argus lifted their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $181.00.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is owned by insiders.

About Raymond James Financial

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.