Maryland State Retirement & Pension System Sells 983 Shares of Raymond James (NYSE:RJF)

Maryland State Retirement & Pension System trimmed its stake in Raymond James (NYSE:RJF) by 9.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,819 shares of the financial services provider’s stock after selling 983 shares during the period. Maryland State Retirement & Pension System’s holdings in Raymond James were worth $1,525,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in RJF. Assetmark Inc. grew its holdings in Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after buying an additional 138 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Raymond James in the 4th quarter valued at approximately $105,701,000. Franklin Resources Inc. grew its holdings in Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after buying an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Raymond James in the 4th quarter valued at approximately $511,000. Finally, Proficio Capital Partners LLC acquired a new stake in Raymond James in the 4th quarter valued at approximately $21,334,000. 83.83% of the stock is owned by institutional investors.

Raymond James Price Performance

Shares of RJF stock opened at $141.35 on Friday. The stock’s fifty day simple moving average is $156.76 and its 200 day simple moving average is $149.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a market cap of $28.96 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a one year low of $104.24 and a one year high of $174.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.41%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. JMP Securities lifted their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Bank of America lifted their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $167.55.

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.