Raymond James (NYSE:RJF) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its position in Raymond James (NYSE:RJF) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,488 shares of the financial services provider’s stock after selling 529 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Raymond James were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RJF. Wolff Wiese Magana LLC boosted its position in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. Quarry LP purchased a new position in Raymond James in the second quarter valued at about $29,000. Covestor Ltd grew its stake in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Raymond James during the 3rd quarter worth approximately $32,000. Finally, Rothschild Investment LLC acquired a new position in shares of Raymond James in the 2nd quarter valued at approximately $62,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RJF has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Bank of America boosted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley increased their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities boosted their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a 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. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Stock Up 1.7 %

Shares of Raymond James stock opened at $163.42 on Tuesday. The stock has a market capitalization of $33.66 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.81 and a beta of 0.99. Raymond James has a twelve month low of $102.42 and a twelve month high of $164.33. 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 business’s 50 day simple moving average is $136.16 and its 200-day simple moving average is $124.81.

Raymond James (NYSE:RJF) last issued its earnings results 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. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $2.13 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts forecast that Raymond James will post 10.83 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

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.