State of Alaska Department of Revenue Increases Stock Holdings in Raymond James (NYSE:RJF)

State of Alaska Department of Revenue increased its holdings in shares of Raymond James (NYSE:RJF) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,942 shares of the financial services provider’s stock after buying an additional 799 shares during the quarter. State of Alaska Department of Revenue’s holdings in Raymond James were worth $2,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Montag & Caldwell LLC grew its stake in Raymond James by 4.2% during the 1st quarter. Montag & Caldwell LLC now owns 3,632 shares of the financial services provider’s stock worth $292,000 after buying an additional 146 shares during the last quarter. First Hawaiian Bank grew its stake in Raymond James by 1.6% during the 1st quarter. First Hawaiian Bank now owns 9,463 shares of the financial services provider’s stock valued at $761,000 after purchasing an additional 150 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Raymond James by 1.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,657 shares of the financial services provider’s stock valued at $1,339,000 after purchasing an additional 158 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Raymond James by 0.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 66,280 shares of the financial services provider’s stock valued at $5,604,000 after purchasing an additional 200 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Raymond James by 215.3% during the 1st quarter. Parallel Advisors LLC now owns 309 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 70.05% of the company’s stock.

In other news, CEO Steven M. Raney sold 2,926 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan N. Santelli sold 725 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $84.82, for a total value of $61,494.50. Following the completion of the sale, the executive vice president now owns 3,003 shares in the company, valued at approximately $254,714.46. The disclosure for this sale can be found here. 10.74% of the stock is owned by corporate insiders.

Raymond James stock traded down $0.55 during trading hours on Friday, hitting $77.75. 1,170,466 shares of the stock traded hands, compared to its average volume of 897,344. Raymond James has a 1 year low of $69.11 and a 1 year high of $96.76. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 1.08. The firm has a market capitalization of $11.38 billion, a PE ratio of 12.02 and a beta of 1.52. The firm’s 50 day moving average price is $83.64.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Raymond James had a return on equity of 16.24% and a net margin of 13.06%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $1.55 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Raymond James will post 7.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.34 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.75%. Raymond James’s payout ratio is 21.02%.

Several research firms have weighed in on RJF. ValuEngine downgraded Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Argus reiterated a “buy” rating on shares of Raymond James in a research note on Tuesday, April 30th. Wells Fargo & Co boosted their price target on Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Citigroup set a $87.00 price target on Raymond James and gave the company a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $93.88.

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.

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

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