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

Teachers Retirement System of The State of Kentucky lessened its stake in Raymond James (NYSE:RJF) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,024 shares of the financial services provider’s stock after selling 1,045 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Raymond James were worth $1,717,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC boosted its stake in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP purchased a new position in Raymond James in the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the 3rd quarter worth $32,000. Gladius Capital Management LP purchased a new stake in shares of Raymond James during the third quarter worth $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James in the third quarter valued at about $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of recent research reports. TD Cowen boosted their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Bank of America boosted their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, JMP Securities raised their target price on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus target price of $142.45.

Raymond James Stock Down 1.6 %

Shares of NYSE:RJF opened at $157.90 on Wednesday. The business has a 50-day moving average price of $153.81 and a 200 day moving average price of $130.64. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.91 and a beta of 1.00.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the firm earned $2.13 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts expect that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a $0.50 dividend. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. Raymond James’s payout ratio is presently 20.60%.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 over the last ninety days. Corporate 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.