New York State Teachers Retirement System Has $31.57 Million Holdings in Raymond James Financial, Inc. $RJF

by · The Markets Daily

New York State Teachers Retirement System lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 9.3% during the 3rd quarter, Holdings Channel reports. The firm owned 182,880 shares of the financial services provider’s stock after selling 18,751 shares during the period. New York State Teachers Retirement System’s holdings in Raymond James Financial were worth $31,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Raymond James Financial by 10.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,154 shares of the financial services provider’s stock valued at $4,169,000 after acquiring an additional 2,195 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Raymond James Financial by 28.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 20,213 shares of the financial services provider’s stock valued at $3,489,000 after acquiring an additional 4,503 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Raymond James Financial by 0.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 93,607 shares of the financial services provider’s stock valued at $16,157,000 after purchasing an additional 430 shares during the period. Benjamin Edwards Inc. bought a new position in shares of Raymond James Financial in the 3rd quarter worth $258,000. Finally, HB Wealth Management LLC grew its stake in shares of Raymond James Financial by 10.6% during the third quarter. HB Wealth Management LLC now owns 3,852 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 369 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Price Performance

NYSE RJF opened at $170.85 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The stock has a market cap of $33.74 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.03 and a beta of 0.99. The business has a 50 day simple moving average of $161.57 and a 200 day simple moving average of $163.58. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.28. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.95 earnings per share. Analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, January 2nd. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.99%.

Analyst Ratings Changes

RJF has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. JMP Securities lifted their price objective on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. Finally, BMO Capital Markets upped their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $180.73.

Read Our Latest Analysis on Raymond James Financial

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is owned by corporate insiders.

About Raymond James Financial

(Free Report)

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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