Illinois Municipal Retirement Fund Acquires 31,016 Shares of Raymond James (NYSE:RJF)

Illinois Municipal Retirement Fund lifted its holdings in shares of Raymond James (NYSE:RJF) by 38.7% in the second quarter, Holdings Channel.com reports. The fund owned 111,215 shares of the financial services provider’s stock after purchasing an additional 31,016 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Raymond James were worth $13,747,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Raymond James during the second quarter valued at approximately $2,948,000. Candriam S.C.A. raised its stake in Raymond James by 9.2% during the second quarter. Candriam S.C.A. now owns 13,667 shares of the financial services provider’s stock worth $1,689,000 after acquiring an additional 1,151 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Raymond James by 1.2% during the second quarter. Victory Capital Management Inc. now owns 120,434 shares of the financial services provider’s stock valued at $14,887,000 after acquiring an additional 1,421 shares during the period. National Bank of Canada FI boosted its stake in shares of Raymond James by 21.7% in the 2nd quarter. National Bank of Canada FI now owns 54,603 shares of the financial services provider’s stock valued at $6,727,000 after purchasing an additional 9,718 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Raymond James by 5.0% in the 2nd quarter. TD Asset Management Inc now owns 384,327 shares of the financial services provider’s stock worth $47,507,000 after purchasing an additional 18,356 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on RJF. TD Cowen upped their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Jefferies Financial Group raised their price target on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. UBS Group cut their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average price target of $129.89.

Raymond James Trading Down 2.0 %

NYSE RJF traded down $2.38 during trading hours on Friday, hitting $115.20. The company’s stock had a trading volume of 808,050 shares, compared to its average volume of 1,115,901. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The firm has a market capitalization of $23.88 billion, a P/E ratio of 13.93, a PEG ratio of 0.81 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $115.60 and a 200 day moving average of $120.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that Raymond James will post 9.57 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.56%. Raymond James’s payout ratio is currently 21.77%.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Raymond James Company 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.