Arizona State Retirement System Purchases 410 Shares of Raymond James (NYSE:RJF)

Arizona State Retirement System lifted its holdings in Raymond James (NYSE:RJF) by 0.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,826 shares of the financial services provider’s stock after purchasing an additional 410 shares during the period. Arizona State Retirement System’s holdings in Raymond James were worth $8,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RJF. Gladius Capital Management LP bought a new position in Raymond James in the third quarter worth approximately $34,000. Y.D. More Investments Ltd increased its stake in shares of Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Raymond James in the 3rd quarter worth $37,000. Plato Investment Management Ltd lifted its position 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 valued at $37,000 after purchasing an additional 217 shares in the last quarter. Finally, Quarry LP grew its holdings in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Bank of America lifted their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Citigroup increased their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, JMP Securities upped their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued 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 price target of $167.55.

Raymond James Trading Down 1.5 %

Shares of RJF stock opened at $143.66 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $29.44 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth 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. The stock’s 50-day moving average price is $160.37 and its 200-day moving average price is $147.45.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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%. Equities research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

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.