Raymond James (NYSE:RJF) Stake Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Raymond James (NYSE:RJF) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,258 shares of the financial services provider’s stock after selling 15,588 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Raymond James worth $39,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Stephens Consulting LLC increased its stake in Raymond James by 188.8% in the 4th quarter. Stephens Consulting LLC now owns 40,624 shares of the financial services provider’s stock worth $4,530,000 after purchasing an additional 26,556 shares in the last quarter. Duality Advisers LP purchased a new position in Raymond James during the 4th quarter valued at about $326,000. Handelsbanken Fonder AB grew its stake in Raymond James by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 44,316 shares of the financial services provider’s stock valued at $4,941,000 after acquiring an additional 1,549 shares in the last quarter. CWM LLC grew its stake in Raymond James by 4.2% during the 4th quarter. CWM LLC now owns 12,852 shares of the financial services provider’s stock valued at $1,433,000 after acquiring an additional 520 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Raymond James by 13.8% during the 4th quarter. Signaturefd LLC now owns 8,293 shares of the financial services provider’s stock valued at $925,000 after acquiring an additional 1,004 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RJF shares. Citigroup lifted their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $110.00 to $135.00 in a research note on Wednesday, January 10th. Finally, UBS Group lowered their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.22.

Raymond James Stock Down 0.1 %

Shares of Raymond James stock opened at $121.86 on Friday. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 0.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. Raymond James has a 52-week low of $82.00 and a 52-week high of $131.19. The stock has a 50-day simple moving average of $123.10 and a 200-day simple moving average of $112.50.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Raymond James will post 9.45 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.48%. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Insider Transactions at Raymond James

In other news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

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.