Investment Management Corp of Ontario Buys 2,200 Shares of Raymond James (NYSE:RJF)

Investment Management Corp of Ontario boosted its stake in Raymond James (NYSE:RJF) by 50.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,526 shares of the financial services provider’s stock after buying an additional 2,200 shares during the period. Investment Management Corp of Ontario’s holdings in Raymond James were worth $799,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RJF. Ceredex Value Advisors LLC lifted its stake in shares of Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after purchasing an additional 474,443 shares during the period. AGF Management Ltd. lifted its position in Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Raymond James by 34.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock valued at $60,462,000 after buying an additional 126,437 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Raymond James by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after buying an additional 113,826 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Raymond James by 40.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 384,823 shares of the financial services provider’s stock worth $47,125,000 after acquiring an additional 110,496 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Transactions at Raymond James

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. This represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,621 shares of company stock worth $9,134,788 in the last ninety days. Insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RJF. TD Cowen upped their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JMP Securities upped their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Bank of America boosted their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their price target on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James Price Performance

NYSE RJF opened at $163.39 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market capitalization of $33.34 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.97 and a beta of 1.00. The stock has a 50-day moving average of $148.77 and a 200 day moving average of $128.76. Raymond James has a one year low of $104.24 and a one year high of $171.38.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the business posted $2.13 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts forecast that Raymond James will post 10.83 EPS for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.22%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

Raymond James Company Profile

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.