Teachers Retirement System of The State of Kentucky Sells 1,169 Shares of Raymond James (NYSE:RJF)

Teachers Retirement System of The State of Kentucky cut its holdings in Raymond James (NYSE:RJF) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,275 shares of the financial services provider’s stock after selling 1,169 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Raymond James were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC bought a new stake in Raymond James in the 4th quarter valued at about $30,000. OLD Point Trust & Financial Services N A bought a new stake in Raymond James in the 4th quarter valued at about $33,000. CVA Family Office LLC bought a new stake in Raymond James in the 4th quarter valued at about $50,000. Massmutual Trust Co. FSB ADV increased its position in Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock valued at $62,000 after buying an additional 192 shares in the last quarter. Finally, Addison Advisors LLC increased its position in Raymond James by 32.7% in the 4th quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock valued at $62,000 after buying an additional 136 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent research reports. Bank of America decreased their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. TD Cowen decreased their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Citigroup boosted their price objective on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, JMP Securities restated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $126.22.

Insider Activity at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Raymond James Price Performance

Raymond James stock opened at $120.69 on Friday. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The business’s 50 day simple moving average is $122.69 and its 200 day simple moving average is $118.58. The company has a market cap of $25.02 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.81 and a beta of 1.01.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company posted $2.03 EPS. Raymond James’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Raymond James will post 9.55 EPS for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 annualized dividend and a yield of 1.49%. Raymond James’s payout ratio is 21.77%.

Raymond James 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.