Kentucky Retirement Systems Trims Stock Holdings in Raymond James (NYSE:RJF)

Kentucky Retirement Systems cut its holdings in shares of Raymond James (NYSE:RJF) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,287 shares of the financial services provider’s stock after selling 749 shares during the quarter. Kentucky Retirement Systems’ holdings in Raymond James were worth $1,835,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its stake in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Smithfield Trust Co grew its position in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the 1st quarter valued at approximately $33,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Raymond James during the 4th quarter valued at approximately $30,000. Finally, OLD Point Trust & Financial Services N A bought a new position in Raymond James during the fourth quarter worth $33,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Down 1.1 %

NYSE:RJF traded down $1.33 during trading hours on Friday, hitting $116.68. 2,179,049 shares of the company’s stock traded hands, compared to its average volume of 1,712,701. The stock’s fifty day moving average price is $119.50 and its two-hundred day moving average price is $120.05. The firm has a market cap of $24.19 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19.

Raymond James (NYSE:RJF) last issued its 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 18.67% 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 company earned $1.85 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Raymond James will post 9.57 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RJF. Morgan Stanley boosted their price objective on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. UBS Group cut their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $129.89.

Insider Buying and Selling

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.74% of the stock is owned by corporate 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.