Raymond James (NYSE:RJF) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Raymond James (NYSE:RJF) by 109.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,462 shares of the financial services provider’s stock after purchasing an additional 58,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.05% of Raymond James worth $13,778,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RJF. Advisory Services Network LLC purchased a new stake in shares of Raymond James during the 4th quarter worth $176,000. Stifel Financial Corp raised its stake in shares of Raymond James by 6.4% during the fourth quarter. Stifel Financial Corp now owns 70,494 shares of the financial services provider’s stock valued at $7,861,000 after purchasing an additional 4,251 shares during the period. Bank of Nova Scotia increased its position in shares of Raymond James by 33.9% during the fourth quarter. Bank of Nova Scotia now owns 23,779 shares of the financial services provider’s stock worth $2,651,000 after acquiring an additional 6,023 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in Raymond James by 47.6% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 5,140 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 1,658 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Raymond James by 3.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 134,961 shares of the financial services provider’s stock worth $15,048,000 after buying an additional 5,083 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Raymond James stock opened at $124.70 on Friday. The stock has a 50-day simple moving average of $117.13 and a 200 day simple moving average of $120.53. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 0.83 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. On average, research analysts anticipate that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Raymond James’s payout ratio is 21.77%.

Analysts Set New Price Targets

Several analysts have weighed in on RJF shares. Wells Fargo & Company started coverage on shares of Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group dropped their target price on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Finally, UBS Group reduced their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $131.60.

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.