Raymond James (NYSE:RJF) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in shares of Raymond James (NYSE:RJF – Get Rating) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,450 shares of the financial services provider’s stock after selling 3,890 shares during the quarter. California State Teachers Retirement System’s holdings in Raymond James were worth $31,370,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RJF. Private Advisor Group LLC purchased a new position in Raymond James during the first quarter worth approximately $364,000. Yousif Capital Management LLC increased its holdings in shares of Raymond James by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 28,663 shares of the financial services provider’s stock worth $3,150,000 after buying an additional 275 shares during the last quarter. Cibc World Market Inc. purchased a new position in shares of Raymond James in the 1st quarter worth $4,195,000. Prudential PLC acquired a new position in Raymond James in the first quarter valued at $540,000. Finally, Cetera Investment Advisers grew its position in Raymond James by 52.9% during the first quarter. Cetera Investment Advisers now owns 4,636 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 1,604 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RJF shares. Credit Suisse Group cut their price objective on Raymond James from $119.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, January 26th. The Goldman Sachs Group cut their price target on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, January 4th. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James from $120.00 to $126.00 and gave the company a “market perform” rating in a research report on Thursday, January 12th. UBS Group dropped their price objective on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. Finally, StockNews.com initiated coverage on shares of Raymond James in a report on Thursday. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $122.86.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Jodi Perry sold 6,343 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $112.30, for a total value of $712,318.90. Following the transaction, the insider now directly owns 7,150 shares of the company’s stock, valued at approximately $802,945. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.46% of the stock is owned by insiders.

Raymond James Trading Down 1.6 %

RJF opened at $88.02 on Friday. The firm’s 50 day moving average is $108.88 and its 200-day moving average is $109.71. Raymond James has a 52-week low of $84.86 and a 52-week high of $126.00. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $18.96 billion, a P/E ratio of 12.26 and a beta of 1.05.

Raymond James (NYSE:RJF – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.01. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.83 billion. Raymond James had a net margin of 13.65% and a return on equity of 17.78%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. Analysts expect that Raymond James will post 9.44 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, March 31st. Raymond James’s dividend payout ratio (DPR) is 23.40%.

Raymond James Profile

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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.