California Public Employees Retirement System Buys 9,242 Shares of Raymond James Financial, Inc. $RJF

California Public Employees Retirement System boosted its stake in Raymond James Financial, Inc. (NYSE:RJF) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 347,745 shares of the financial services provider’s stock after purchasing an additional 9,242 shares during the quarter. California Public Employees Retirement System’s holdings in Raymond James Financial were worth $50,350,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RJF. Empowered Funds LLC increased its position in Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after buying an additional 314 shares in the last quarter. Woodline Partners LP raised its stake in Raymond James Financial by 41.8% during the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after buying an additional 4,592 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 685 shares in the last quarter. Brown Advisory Inc. grew its stake in Raymond James Financial by 15.1% in the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 298 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in Raymond James Financial in the second quarter valued at approximately $363,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Down 0.1%

NYSE RJF opened at $168.19 on Tuesday. The firm has a market capitalization of $32.78 billion, a P/E ratio of 15.90, a PEG ratio of 1.07 and a beta of 0.93. The business has a fifty day simple moving average of $155.91 and a 200 day simple moving average of $156.40. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned $2.42 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts predict that Raymond James Financial, Inc. will post 11.84 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Wall Street Analyst Weigh In

RJF has been the subject of several recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Barclays upped their price objective on shares of Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Jefferies Financial Group reduced their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, July 9th. Finally, BMO Capital Markets raised their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $176.64.

Raymond James Financial Profile

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.