iA Global Asset Management Inc. Grows Position in Raymond James (NYSE:RJF)

iA Global Asset Management Inc. boosted its stake in Raymond James (NYSE:RJF) by 36.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,798 shares of the financial services provider’s stock after purchasing an additional 3,129 shares during the quarter. iA Global Asset Management Inc.’s holdings in Raymond James were worth $1,515,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board lifted its position in Raymond James by 4.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock valued at $628,000 after buying an additional 240 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Raymond James by 86.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock valued at $493,000 after buying an additional 2,047 shares in the last quarter. Hsbc Holdings PLC lifted its position in Raymond James by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after buying an additional 89,981 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 2,328 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Raymond James by 44.5% during the fourth quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock valued at $12,349,000 after buying an additional 34,101 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 9.74% of the company’s stock.

Raymond James Price Performance

Shares of NYSE:RJF traded down $5.05 during trading hours on Friday, hitting $107.12. 640,256 shares of the company’s stock traded hands, compared to its average volume of 1,131,352. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The company’s fifty day simple moving average is $118.74 and its two-hundred day simple moving average is $120.04. The company has a market cap of $22.20 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.67%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. As a group, equities analysts anticipate that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s payout ratio is presently 21.77%.

Analysts Set New Price Targets

RJF has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group lifted their price target on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. JMP Securities restated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Morgan Stanley lifted their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $129.89.

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.