Raymond James (NYSE:RJF) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System trimmed its holdings in Raymond James (NYSE:RJF) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,644 shares of the financial services provider’s stock after selling 800 shares during the period. State of Michigan Retirement System’s holdings in Raymond James were worth $7,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its position in shares of Raymond James by 31.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,579 shares of the financial services provider’s stock worth $2,109,000 after acquiring an additional 3,281 shares during the last quarter. Plato Investment Management Ltd raised its stake in Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 217 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Raymond James by 30.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,011 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 234 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Raymond James by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,159 shares of the financial services provider’s stock valued at $491,000 after buying an additional 367 shares during the period. Finally, Metis Global Partners LLC increased its holdings in shares of Raymond James by 64.2% during the 4th quarter. Metis Global Partners LLC now owns 10,041 shares of the financial services provider’s stock worth $1,560,000 after buying an additional 3,926 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $145.98 on Thursday. 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 company’s fifty day moving average price is $160.37 and its two-hundred day moving average price is $147.45. The firm has a market capitalization of $29.91 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping 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, research analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s payout ratio is currently 19.51%.

Insider Buying and Selling

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RJF shares. Keefe, Bruyette & Woods boosted their price target on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Bank of America boosted their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Citigroup raised their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Raymond James has an average rating of “Hold” and an average target price of $167.55.

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.