Retirement Systems of Alabama Has $4.99 Million Position in Raymond James (NYSE:RJF)

Retirement Systems of Alabama lowered its holdings in Raymond James (NYSE:RJF) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,766 shares of the financial services provider’s stock after selling 385 shares during the period. Retirement Systems of Alabama’s holdings in Raymond James were worth $4,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RJF. Wellington Management Group LLP lifted its stake in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after purchasing an additional 474,443 shares during the period. AGF Management Ltd. lifted its position in shares of Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Raymond James in the third quarter worth approximately $34,105,000. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Raymond James during the third quarter worth approximately $28,985,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value 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 trade represents a 23.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,621 shares of company stock valued at $10,729,488. Insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RJF. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Morgan Stanley upped their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America lifted their price objective on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $169.00 target price (up from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. Finally, TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Raymond James has a consensus rating of “Hold” and an average target price of $142.45.

Raymond James Stock Down 3.5 %

RJF opened at $152.42 on Thursday. The firm has a market cap of $31.10 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The business has a 50 day moving average price of $154.29 and a 200 day moving average price of $130.79. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 EPS. Research analysts forecast that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. Raymond James’s payout ratio is presently 20.60%.

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.