Arizona State Retirement System Reduces Position in Raymond James (NYSE:RJF)

Arizona State Retirement System cut its holdings in shares of Raymond James (NYSE:RJF) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,549 shares of the financial services provider’s stock after selling 283 shares during the period. Arizona State Retirement System’s holdings in Raymond James were worth $6,743,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in Raymond James in the fourth quarter worth about $238,830,000. Heritage Wealth Advisors boosted its position in Raymond James by 3,480.7% in the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after purchasing an additional 474,622 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Raymond James by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock worth $204,335,000 after purchasing an additional 263,687 shares during the last quarter. SG Americas Securities LLC boosted its position in Raymond James by 820.2% in the first quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after purchasing an additional 176,210 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Raymond James by 27.4% in the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock worth $90,273,000 after purchasing an additional 174,286 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RJF has been the topic of several research reports. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. TD Cowen lifted their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group lowered their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group lifted their price objective on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $129.89.

Raymond James Stock Down 2.0 %

Shares of RJF opened at $115.20 on Monday. The business’s 50 day moving average is $115.60 and its 200 day moving average is $120.38. The company has a market capitalization of $23.72 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company earned $1.85 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that Raymond James will post 9.57 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

Insiders Place Their Bets

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Raymond James Profile

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.