Todays Report: Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys 590 Shares of Raymond James Financial Inc. (RJF)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys 590 Shares of Raymond James Financial Inc. (RJF)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Raymond James Financial Inc. (NYSE:RJF) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 48,065 shares of the company’s stock after buying an additional 590 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Raymond James Financial were worth $2,798,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RJF. Palisade Capital Management LLC NJ boosted its stake in shares of Raymond James Financial by 1.6% in the second quarter. Palisade Capital Management LLC NJ now owns 763,587 shares of the company’s stock worth $37,645,000 after buying an additional 12,290 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Raymond James Financial by 6.5% in the third quarter. Raymond James Trust N.A. now owns 150,162 shares of the company’s stock worth $8,741,000 after buying an additional 9,123 shares in the last quarter. National Investment Services Inc. WI boosted its stake in shares of Raymond James Financial by 2.1% in the second quarter. National Investment Services Inc. WI now owns 39,882 shares of the company’s stock worth $1,966,000 after buying an additional 834 shares in the last quarter. DIAM Co. Ltd. boosted its stake in shares of Raymond James Financial by 4.0% in the second quarter. DIAM Co. Ltd. now owns 45,474 shares of the company’s stock worth $2,231,000 after buying an additional 1,749 shares in the last quarter. Finally, Wright Investors Service Inc. boosted its stake in shares of Raymond James Financial by 46.8% in the second quarter. Wright Investors Service Inc. now owns 12,500 shares of the company’s stock worth $616,000 after buying an additional 3,985 shares in the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.

Raymond James Financial Inc. (NYSE:RJF) opened at 72.50 on Friday. The firm’s 50-day moving average is $63.24 and its 200-day moving average is $56.64. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 19.86 and a beta of 1.51. Raymond James Financial Inc. has a 52-week low of $39.84 and a 52-week high of $73.59.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.29. Raymond James Financial had a net margin of 9.59% and a return on equity of 11.26%. The business had revenue of $1.46 billion for the quarter. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Analysts forecast that Raymond James Financial Inc. will post $4.29 EPS for the current fiscal year.

A number of research analysts have weighed in on RJF shares. Zacks Investment Research lowered shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. JMP Securities lowered shares of Raymond James Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, October 28th. They noted that the move was a valuation call. Nomura reissued a “hold” rating and set a $62.00 target price on shares of Raymond James Financial in a research report on Friday, September 30th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Raymond James Financial in a research report on Thursday, September 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $59.83.

In related news, CFO Jeffrey P. Julien sold 18,600 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $57.62, for a total transaction of $1,071,732.00. Following the sale, the chief financial officer now directly owns 46,407 shares in the company, valued at $2,673,971.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Dennis W. Zank sold 10,010 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $57.64, for a total transaction of $576,976.40. Following the sale, the chief operating officer now owns 148,369 shares in the company, valued at $8,551,989.16. The disclosure for this sale can be found here. Corporate insiders own 11.21% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.

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