Raymond James (NYSE:RJF) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its position in shares of Raymond James (NYSE:RJF) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,190 shares of the financial services provider’s stock after selling 537 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Raymond James were worth $3,136,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Earnest Partners LLC raised its stake in Raymond James by 1.0% in 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 buying an additional 24,195 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Raymond James during the 4th quarter worth approximately $4,801,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Raymond James in the 4th quarter worth about $17,580,000. Virtus ETF Advisers LLC acquired a new stake in Raymond James in the 4th quarter valued at about $1,207,000. Finally, Lord Abbett & CO. LLC purchased a new position in Raymond James during the 4th quarter valued at about $4,652,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Cowen reissued a “hold” rating on shares of Raymond James in a research report on Thursday, April 24th. JMP Securities reaffirmed a “market outperform” rating and set a $175.00 price objective on shares of Raymond James in a research note on Thursday, April 24th. The Goldman Sachs Group cut their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, Citigroup decreased their price target on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $157.64.

Raymond James Price Performance

RJF stock opened at $138.19 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $139.65 and a two-hundred day moving average price of $151.97. The company has a market cap of $28.32 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, April 1st. Raymond James’s payout ratio is currently 19.25%.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of Raymond James 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 sale, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.

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.