Raymond James Financial, Inc. $RJF Position Reduced by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 45.1% during the first quarter, Holdings Channel reports. The fund owned 210,922 shares of the financial services provider’s stock after selling 172,947 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Raymond James Financial were worth $30,539,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RJF. Morningstar Investment Management LLC raised its stake in Raymond James Financial by 92.7% during the 1st quarter. Morningstar Investment Management LLC now owns 50,079 shares of the financial services provider’s stock valued at $7,251,000 after purchasing an additional 24,085 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Raymond James Financial by 0.6% in the first quarter. Public Employees Retirement System of Ohio now owns 97,829 shares of the financial services provider’s stock worth $14,165,000 after buying an additional 557 shares during the period. Compound Planning Inc. boosted its position in shares of Raymond James Financial by 8.7% in the first quarter. Compound Planning Inc. now owns 1,716 shares of the financial services provider’s stock worth $248,000 after buying an additional 138 shares during the period. Inceptionr LLC grew its holdings in shares of Raymond James Financial by 193.4% during the first quarter. Inceptionr LLC now owns 13,595 shares of the financial services provider’s stock valued at $1,961,000 after buying an additional 8,961 shares in the last quarter. Finally, Lido Advisors LLC grew its holdings in shares of Raymond James Financial by 15.9% during the first quarter. Lido Advisors LLC now owns 4,612 shares of the financial services provider’s stock valued at $668,000 after buying an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial News Summary

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

Raymond James Financial Stock Down 0.0%

Shares of Raymond James Financial stock opened at $169.27 on Monday. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.06 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The stock has a 50-day simple moving average of $156.99 and a 200-day simple moving average of $156.54.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 earnings per share. On average, equities research analysts expect that Raymond James Financial, Inc. will post 12.01 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 18.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RJF shares. Morgan Stanley raised their price objective on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Jefferies Financial Group reduced their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. TD Cowen decreased their price target on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a report on Thursday. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.82.

Raymond James Financial Company 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.