Teachers Retirement System of The State of Kentucky Reduces Holdings in Raymond James (NYSE:RJF)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Raymond James (NYSE:RJF) by 2.8% in the second quarter, HoldingsChannel.com reports. The fund owned 15,069 shares of the financial services provider’s stock after selling 434 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Raymond James were worth $1,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP purchased a new stake in Raymond James in the 2nd quarter valued at approximately $29,000. Smithfield Trust Co boosted its stake in Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after buying an additional 126 shares during the last quarter. Covestor Ltd boosted its holdings in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Raymond James during the fourth quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the first quarter worth about $33,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RJF shares. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. The Goldman Sachs 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 Thursday, September 26th. Wells Fargo & Company began coverage on shares of Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price on the stock. TD Cowen increased their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Ten 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 company currently has an average rating of “Hold” and a consensus target price of $131.90.

Raymond James Price Performance

Shares of RJF opened at $127.13 on Friday. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a fifty day moving average price of $117.27 and a 200 day moving average price of $120.56. The company has a market cap of $26.35 billion, a P/E ratio of 15.37, a PEG ratio of 0.83 and a beta of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly 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 net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is 21.77%.

Insider Buying and Selling at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

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.