New York State Teachers Retirement System Increases Stock Position in Raymond James (NYSE:RJF)

New York State Teachers Retirement System grew its position in shares of Raymond James (NYSE:RJF) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,518 shares of the financial services provider’s stock after purchasing an additional 9,852 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Raymond James worth $27,753,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board increased its stake in Raymond James by 4.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock worth $628,000 after acquiring an additional 240 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Raymond James by 86.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 2,047 shares in the last quarter. Hsbc Holdings PLC increased its position in Raymond James by 25.4% in the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock worth $49,603,000 after purchasing an additional 89,981 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after purchasing an additional 2,328 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Raymond James by 44.5% during the fourth quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock valued at $12,349,000 after purchasing an additional 34,101 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RJF shares. TD Cowen upped their target price on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. UBS Group dropped their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group increased their price target on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $129.89.

Raymond James Stock Up 0.5 %

Shares of RJF opened at $116.79 on Friday. The firm has a fifty day moving average price of $116.06 and a 200-day moving average price of $120.09. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $24.05 billion, a P/E ratio of 14.12, a P/E/G ratio of 0.79 and a beta of 1.02. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.24 billion. During the same quarter last year, the business posted $1.85 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts expect that Raymond James will post 9.57 earnings per share for the current year.

Raymond James Dividend Announcement

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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insiders Place Their Bets

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated 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 $8,692,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction 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 transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James Company 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.