Raymond James Financial, Inc. (NYSE:RJF) Stake Boosted by Kentucky Retirement Systems

Kentucky Retirement Systems boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,835 shares of the financial services provider’s stock after purchasing an additional 1,098 shares during the period. Kentucky Retirement Systems’ holdings in Raymond James Financial were worth $1,922,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of RJF. FMR LLC raised its stake in shares of Raymond James Financial by 2.2% during the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after purchasing an additional 137,277 shares in the last quarter. Geode Capital Management LLC increased its holdings in Raymond James Financial by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after buying an additional 40,576 shares during the last quarter. Earnest Partners LLC raised its position in Raymond James Financial by 1.0% during the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock valued at $393,554,000 after acquiring an additional 24,195 shares in the last quarter. Invesco Ltd. raised its position in Raymond James Financial by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock valued at $378,276,000 after acquiring an additional 192,904 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Raymond James Financial by 18.4% in the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after acquiring an additional 327,739 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Up 1.3%

Raymond James Financial stock opened at $150.94 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. The business’s 50-day simple moving average is $144.41 and its 200-day simple moving average is $149.90. The firm has a market capitalization of $30.45 billion, a PE ratio of 14.53, a PEG ratio of 1.79 and a beta of 1.03. Raymond James Financial, Inc. has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 earnings per share. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.25%.

Insider Buying and Selling

In other news, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider now owns 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RJF has been the topic of several analyst reports. Bank of America lowered shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a research note on Wednesday, April 30th. Morgan Stanley increased their target price on shares of Raymond James Financial from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Wells Fargo & Company cut their target price on Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Raymond James Financial from $149.00 to $143.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $153.82.

Raymond James Financial 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.