Raymond James (NYSE:RJF) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in shares of Raymond James (NYSE:RJF) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,416 shares of the financial services provider’s stock after selling 1,084 shares during the quarter. Retirement Systems of Alabama’s holdings in Raymond James were worth $4,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RJF. American Century Companies Inc. increased its position in shares of Raymond James by 26.0% during the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock valued at $16,668,000 after acquiring an additional 34,200 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Raymond James by 29.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 335,385 shares of the financial services provider’s stock valued at $37,395,000 after purchasing an additional 77,263 shares during the last quarter. Banque Cantonale Vaudoise raised its position in Raymond James by 13.3% in the third quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 318 shares during the period. Daiwa Securities Group Inc. lifted its stake in Raymond James by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 17,536 shares of the financial services provider’s stock worth $1,955,000 after purchasing an additional 997 shares in the last quarter. Finally, Operose Advisors LLC boosted its position in shares of Raymond James by 241.3% during the third quarter. Operose Advisors LLC now owns 1,024 shares of the financial services provider’s stock worth $103,000 after buying an additional 724 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen decreased their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group reiterated a “hold” rating and set a $117.00 target price (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus price target of $126.22.

Raymond James Stock Performance

Shares of RJF stock opened at $125.57 on Tuesday. The firm has a market cap of $26.25 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.85 and a beta of 1.03. Raymond James has a 1 year low of $84.06 and a 1 year high of $131.19. The stock’s 50-day moving average is $123.65 and its two-hundred day moving average is $113.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.03 earnings per share. Analysts predict that Raymond James will post 9.56 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.43%. Raymond James’s dividend payout ratio is currently 21.77%.

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.