Arizona State Retirement System Sells 2,407 Shares of Raymond James (RJF)

Arizona State Retirement System lessened its holdings in shares of Raymond James (NYSE:RJF) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,356 shares of the financial services provider’s stock after selling 2,407 shares during the quarter. Arizona State Retirement System’s holdings in Raymond James were worth $3,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Raymond James by 42.6% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,413 shares of the financial services provider’s stock worth $3,008,000 after buying an additional 11,185 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Raymond James by 1.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,657 shares of the financial services provider’s stock worth $1,339,000 after buying an additional 158 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Raymond James by 13.1% during the first quarter. CENTRAL TRUST Co now owns 2,694 shares of the financial services provider’s stock worth $217,000 after buying an additional 312 shares in the last quarter. World Asset Management Inc boosted its stake in Raymond James by 3.1% during the first quarter. World Asset Management Inc now owns 8,059 shares of the financial services provider’s stock worth $648,000 after buying an additional 243 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Raymond James by 2.9% during the first quarter. Bank of Montreal Can now owns 101,262 shares of the financial services provider’s stock worth $8,142,000 after buying an additional 2,895 shares in the last quarter. 71.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on RJF. Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. ValuEngine upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Compass Point began coverage on shares of Raymond James in a research note on Monday, March 11th. They set a “buy” rating and a $96.00 price target on the stock. Credit Suisse Group decreased their price target on shares of Raymond James from $100.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, January 14th. Finally, Argus initiated coverage on shares of Raymond James in a research note on Wednesday, March 6th. They set a “buy” rating and a $92.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Raymond James presently has an average rating of “Buy” and a consensus price target of $94.63.

In related news, CEO Steven M. Raney sold 2,926 shares of Raymond James stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $90.60, for a total value of $265,095.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Allison sold 5,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $90.46, for a total value of $452,300.00. Following the sale, the insider now directly owns 24,352 shares of the company’s stock, valued at $2,202,881.92. The disclosure for this sale can be found here. Insiders sold 109,156 shares of company stock valued at $9,951,492 over the last ninety days. 10.74% of the stock is currently owned by company insiders.

Raymond James stock opened at $87.26 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.10. Raymond James has a 12-month low of $69.11 and a 12-month high of $102.17. The stock has a market capitalization of $12.85 billion, a P/E ratio of 13.49 and a beta of 1.58.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.14. Raymond James had a return on equity of 15.98% and a net margin of 12.90%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James will post 7.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.56%. Raymond James’s dividend payout ratio is 21.02%.

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Raymond James 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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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