Illinois Municipal Retirement Fund Boosts Stock Position in Raymond James Financial, Inc. (NYSE:RJF)

Illinois Municipal Retirement Fund raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 36.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,279 shares of the financial services provider’s stock after purchasing an additional 34,320 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Raymond James Financial worth $17,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC raised its position in Raymond James Financial by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial in the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC grew its stake in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares during the last quarter. Finally, Plato Investment Management Ltd grew its stake in shares of Raymond James Financial by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider now directly owns 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $152.73 on Friday. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32. The business has a 50-day moving average of $145.48 and a 200-day moving average of $149.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.82 and a beta of 1.03.

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 analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 EPS. On average, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial’s payout ratio is currently 19.25%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Bank of America downgraded 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. Citigroup cut their price target on Raymond James Financial from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price target on Raymond James Financial from $149.00 to $143.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. JMP Securities reissued a “market outperform” rating and issued a $175.00 target price on shares of Raymond James Financial in a research report on Thursday, April 24th. Finally, Cowen restated a “hold” rating on shares of Raymond James Financial 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, Raymond James Financial has an average rating of “Hold” and a consensus price target 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.