Raymond James Financial, Inc. $RJF Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 9.2% in the third quarter, Holdings Channel reports. The firm owned 147,080 shares of the financial services provider’s stock after purchasing an additional 12,335 shares during the period. Illinois Municipal Retirement Fund’s holdings in Raymond James Financial were worth $23,242,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Raymond James Financial in the second quarter worth about $2,180,699,000. Primecap Management Co. CA purchased a new stake in shares of Raymond James Financial during the second quarter worth about $1,405,145,000. Bank of America Corp DE acquired a new position in shares of Raymond James Financial in the second quarter worth about $360,592,000. Bank of New York Mellon Corp purchased a new position in Raymond James Financial in the second quarter valued at about $182,254,000. Finally, Legal & General Group Plc purchased a new position in Raymond James Financial in the second quarter valued at about $181,811,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $179.00 to $185.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Truist Financial set a $165.00 price target on shares of Raymond James Financial and gave the stock a “hold” rating in a research report on Friday, October 30th. Jefferies Financial Group restated a “hold” rating and issued a $168.00 price target (down from $177.00) on shares of Raymond James Financial in a research note on Thursday, October 29th. Argus upped their price target on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Bank of America reiterated a “neutral” rating and set a $198.00 price objective (up from $196.00) on shares of Raymond James Financial in a research note on Monday, October 5th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and an average target price of $181.46.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Allaire sold 7,500 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the sale, the insider directly owned 46,086 shares of the company’s stock, valued at approximately $8,184,873.60. This represents a 14.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Trading Up 0.1%

Shares of NYSE RJF opened at $168.03 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $162.97 and its two-hundred day moving average price is $160.09. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73. The stock has a market capitalization of $32.32 billion, a P/E ratio of 14.10, a PEG ratio of 0.90 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.33. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.20 billion. Raymond James Financial had a return on equity of 19.52% and a net margin of 13.50%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.11 EPS. On average, analysts anticipate that Raymond James Financial, Inc. will post 14.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, October 1st. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s payout ratio is presently 18.12%.

Raymond James Financial Company Profile

Raymond James Financial, Inc. is a diversified financial services company that provides wealth management, investment banking, asset management and banking services. Through its financial advisors and related businesses, it serves individuals, families, businesses and institutions. The company offers financial planning, investment advisory and brokerage services, along with corporate finance, equity and fixed-income capital markets services. Its asset management business provides investment strategies and portfolio solutions, while Raymond James Bank offers banking and lending services.