Raymond James (NYSE:RJF) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its position in shares of Raymond James (NYSE:RJF) by 40.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,376 shares of the financial services provider’s stock after selling 2,259 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Raymond James were worth $434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RJF. Smithfield Trust Co increased its holdings in Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the 1st quarter valued at $33,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Raymond James in the 4th quarter valued at $30,000. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the 4th quarter valued at $33,000. Finally, FinTrust Capital Advisors LLC increased its holdings in Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 137 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. TD Cowen raised their target price on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. UBS Group lowered their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $129.89.

Raymond James Stock Up 1.3 %

Shares of RJF stock traded up $1.36 during trading hours on Monday, hitting $109.98. 1,836,465 shares of the company were exchanged, compared to its average volume of 1,097,182. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. The business’s 50-day simple moving average is $120.76 and its two-hundred day simple moving average is $119.96. Raymond James has a one year low of $91.67 and a one year high of $131.19. The stock has a market capitalization of $22.80 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.68 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the business earned $2.03 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.64%. Raymond James’s dividend payout ratio is currently 21.77%.

Insiders Place Their Bets

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the sale, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.