Raymond James Financial, Inc. $RJF Stock Holdings Lowered by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,147 shares of the financial services provider’s stock after selling 7,315 shares during the period. California State Teachers Retirement System owned 0.14% of Raymond James Financial worth $38,970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RJF. Empowered Funds LLC increased its position in Raymond James Financial by 358.5% during the first quarter. Empowered Funds LLC now owns 23,362 shares of the financial services provider’s stock worth $3,370,000 after buying an additional 18,267 shares during the last quarter. Dean Capital Management boosted its stake in Raymond James Financial by 15.1% in the 1st quarter. Dean Capital Management now owns 14,181 shares of the financial services provider’s stock valued at $2,053,000 after buying an additional 1,859 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Raymond James Financial by 15.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 23,675 shares of the financial services provider’s stock valued at $3,428,000 after acquiring an additional 3,171 shares during the last quarter. North Reef Capital Management LP bought a new stake in Raymond James Financial during the 1st quarter worth about $23,045,000. Finally, Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Raymond James Financial during the first quarter valued at $854,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insiders Place Their Bets

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RJF. TD Cowen decreased their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Barclays boosted their price objective on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Morgan Stanley raised their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Finally, UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $181.00.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $176.12 on Friday. The business has a 50-day simple moving average of $159.33 and a 200 day simple moving average of $156.89. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.07 and a beta of 0.93. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $178.28.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned $2.18 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, research analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.83%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.