Retirement Systems of Alabama Has $4.99 Million Stock Holdings in Raymond James (NYSE:RJF)

Retirement Systems of Alabama trimmed its stake in shares of Raymond James (NYSE:RJF) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,766 shares of the financial services provider’s stock after selling 385 shares during the quarter. Retirement Systems of Alabama’s holdings in Raymond James were worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

RJF has been the subject of several analyst reports. Wells Fargo & Company reissued an “equal weight” rating and set a $169.00 price target (up from $152.00) on shares of Raymond James in a report on Thursday, December 12th. JMP Securities lifted their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group lifted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $142.45.

Raymond James Trading Down 3.5 %

RJF stock opened at $152.42 on Thursday. The business has a fifty day moving average of $154.29 and a 200-day moving average of $130.79. The company has a market cap of $31.10 billion, a P/E ratio of 15.70, a PEG ratio of 0.91 and a beta of 1.00. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.13 EPS. As a group, equities research analysts expect that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a $0.50 dividend. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, January 2nd. Raymond James’s dividend payout ratio is currently 20.60%.

Insider Buying and Selling at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,621 shares of company stock valued at $10,729,488. 9.74% of the stock is currently owned by 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.