Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in Raymond James Financial, Inc. $RJF

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 17.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 383,869 shares of the financial services provider’s stock after selling 83,056 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Raymond James Financial were worth $61,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial during the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial during the fourth quarter worth $32,000. Harbor Investment Advisory LLC raised its stake in shares of Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at $35,000. Finally, Salomon & Ludwin LLC raised its stake in shares of Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial Stock Down 0.1%

Raymond James Financial stock opened at $154.25 on Monday. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The stock has a market cap of $30.06 billion, a PE ratio of 14.58, a P/E/G ratio of 1.19 and a beta of 0.94. The stock’s fifty day moving average is $151.05 and its two-hundred day moving average is $156.55.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $2.42 earnings per share. Raymond James Financial’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 11.82 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.42%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RJF. Barclays reiterated an “overweight” rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. TD Cowen reduced their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, Morgan Stanley increased their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and a consensus target price of $172.92.

About Raymond James Financial

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.