Iat Reinsurance Co. LTD. continued to hold its stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 300,000 shares of the financial services provider’s stock at the end of the second quarter. Raymond James Financial comprises 4.1% of Iat Reinsurance Co. LTD.’s holdings, making the stock its 7th largest position. Iat Reinsurance Co. LTD. owned 0.21% of Raymond James Financial worth $24,066,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RJF. Neuberger Berman Group LLC increased its stake in Raymond James Financial by 0.4% in the second quarter. Neuberger Berman Group LLC now owns 351,825 shares of the financial services provider’s stock worth $28,223,000 after buying an additional 1,542 shares during the period. Pacer Advisors Inc. increased its stake in Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after buying an additional 206 shares during the period. Utah Retirement Systems increased its stake in Raymond James Financial by 2.2% in the second quarter. Utah Retirement Systems now owns 23,547 shares of the financial services provider’s stock worth $1,889,000 after buying an additional 500 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Raymond James Financial by 6.1% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 300,670 shares of the financial services provider’s stock worth $24,120,000 after buying an additional 17,351 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Raymond James Financial by 20.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 31,774 shares of the financial services provider’s stock worth $2,549,000 after buying an additional 5,473 shares during the period. 70.11% of the stock is currently owned by institutional investors and hedge funds.

Shares of Raymond James Financial, Inc. (RJF) traded down 0.05% during midday trading on Friday, reaching $78.75. 420,445 shares of the company traded hands. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 18.73 and a beta of 1.65. Raymond James Financial, Inc. has a 12 month low of $56.06 and a 12 month high of $85.97. The company’s 50 day moving average is $81.58 and its 200-day moving average is $77.79.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.02. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Equities research analysts forecast that Raymond James Financial, Inc. will post $5.07 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.12%. Raymond James Financial’s payout ratio is currently 20.90%.

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A number of research firms have recently issued reports on RJF. BidaskClub downgraded shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Instinet reaffirmed a “buy” rating and set a $90.00 target price (up from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Nomura upped their target price on shares of Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Buckingham Research reaffirmed a “buy” rating and set a $94.00 target price (up from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research note on Monday, June 26th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $87.50.

In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the completion of the sale, the chief executive officer now owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the sale, the insider now directly owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. 11.18% of the stock is owned by corporate insiders.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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