State Board of Administration of Florida Retirement System reduced its stake in shares of Raymond James (NYSE:RJF) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 164,166 shares of the financial services provider’s stock after selling 4,318 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of Raymond James worth $12,216,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in RJF. Bank of New York Mellon Corp raised its position in Raymond James by 51.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,877,559 shares of the financial services provider’s stock worth $167,759,000 after purchasing an additional 634,378 shares during the last quarter. FMR LLC raised its position in Raymond James by 30.0% during the 2nd quarter. FMR LLC now owns 959,737 shares of the financial services provider’s stock worth $85,753,000 after purchasing an additional 221,379 shares during the last quarter. Vanguard Group Inc raised its position in Raymond James by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock worth $1,266,683,000 after purchasing an additional 182,616 shares during the last quarter. Panagora Asset Management Inc. raised its position in Raymond James by 119.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 288,550 shares of the financial services provider’s stock worth $26,561,000 after purchasing an additional 156,791 shares during the last quarter. Finally, Putnam Investments LLC raised its position in Raymond James by 77.1% during the 3rd quarter. Putnam Investments LLC now owns 330,629 shares of the financial services provider’s stock worth $30,434,000 after purchasing an additional 143,954 shares during the last quarter. 73.29% of the stock is owned by institutional investors and hedge funds.
Raymond James stock traded down $0.21 during trading hours on Monday, reaching $80.22. 76,536 shares of the company’s stock were exchanged, compared to its average volume of 977,325. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. Raymond James has a twelve month low of $69.11 and a twelve month high of $102.17. The company has a market cap of $11.38 billion, a P/E ratio of 12.40, a PEG ratio of 0.66 and a beta of 1.55.
Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.06. Raymond James had a return on equity of 15.84% and a net margin of 12.79%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the business posted $1.61 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Raymond James will post 7.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 17th. Shareholders of record on Thursday, January 3rd were issued a dividend of $0.34 per share. This is an increase from Raymond James’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, January 2nd. Raymond James’s dividend payout ratio (DPR) is presently 21.02%.
Several research analysts recently issued reports on RJF shares. ValuEngine lowered Raymond James from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Raymond James in a research report on Thursday, January 24th. Zacks Investment Research raised Raymond James from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Credit Suisse Group lowered their target price on Raymond James from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Finally, Goldman Sachs Group started coverage on Raymond James in a report on Tuesday, November 27th. They set a “neutral” rating and a $85.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Raymond James presently has an average rating of “Hold” and an average price target of $95.50.
In other Raymond James news, SVP George Catanese sold 6,611 shares of the stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $78.71, for a total transaction of $520,351.81. Following the completion of the sale, the senior vice president now directly owns 6,180 shares in the company, valued at approximately $486,427.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.74% 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.
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