Retirement Systems of Alabama Reduces Holdings in Raymond James (NYSE:RJF)

Retirement Systems of Alabama cut its stake in shares of Raymond James (NYSE:RJF) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,113 shares of the financial services provider’s stock after selling 4,819 shares during the quarter. Retirement Systems of Alabama’s holdings in Raymond James were worth $4,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. MML Investors Services LLC raised its position in shares of Raymond James by 1.8% in the 2nd quarter. MML Investors Services LLC now owns 7,633 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 132 shares in the last quarter. Shine Investment Advisory Services Inc. increased its position in Raymond James by 36.0% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 567 shares of the financial services provider’s stock valued at $47,000 after buying an additional 150 shares in the last quarter. LS Investment Advisors LLC increased its position in Raymond James by 2.6% during the 2nd quarter. LS Investment Advisors LLC now owns 6,148 shares of the financial services provider’s stock valued at $520,000 after buying an additional 154 shares in the last quarter. Bray Capital Advisors increased its position in Raymond James by 18.8% during the 2nd quarter. Bray Capital Advisors now owns 1,045 shares of the financial services provider’s stock valued at $88,000 after buying an additional 165 shares in the last quarter. Finally, World Asset Management Inc increased its position in Raymond James by 2.0% during the 3rd quarter. World Asset Management Inc now owns 8,248 shares of the financial services provider’s stock valued at $680,000 after buying an additional 165 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Several analysts have commented on the company. ValuEngine downgraded Raymond James from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 29th. Citigroup cut their target price on Raymond James from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, September 19th. Finally, Credit Suisse Group increased their target price on Raymond James from $97.00 to $98.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $92.00.

Shares of RJF opened at $89.29 on Friday. The business’s fifty day simple moving average is $82.91 and its two-hundred day simple moving average is $83.08. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Raymond James has a 12 month low of $69.11 and a 12 month high of $92.00. The company has a market cap of $12.37 billion, a price-to-earnings ratio of 12.07 and a beta of 1.52.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.99 by $0.01. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.99 billion. Raymond James had a return on equity of 16.67% and a net margin of 12.89%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.68 EPS. As a group, research analysts forecast that Raymond James will post 8.05 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.34 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. Raymond James’s dividend payout ratio (DPR) is currently 18.38%.

In related news, CEO Paul D. Allison sold 1,950 shares of Raymond James stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $84.50, for a total transaction of $164,775.00. Following the transaction, the chief executive officer now directly owns 41,852 shares in the company, valued at $3,536,494. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jeffrey E. Trocin sold 17,360 shares of Raymond James stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $88.09, for a total value of $1,529,242.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,059 shares of company stock worth $4,288,133. Company insiders own 10.74% of the company’s stock.

About Raymond James

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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