Kentucky Retirement Systems Sells 229 Shares of Raymond James (NYSE:RJF)

Kentucky Retirement Systems lowered its stake in shares of Raymond James (NYSE:RJF) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,058 shares of the financial services provider’s stock after selling 229 shares during the quarter. Kentucky Retirement Systems’ holdings in Raymond James were worth $1,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. Heritage Wealth Advisors increased its holdings in shares of Raymond James by 3,480.7% in the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after purchasing an additional 474,622 shares in the last quarter. AGF Management Ltd. boosted its position in Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Raymond James by 820.2% in the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock valued at $25,388,000 after buying an additional 176,210 shares during the period. Sei Investments Co. raised its position in shares of Raymond James by 27.4% during the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock worth $90,273,000 after acquiring an additional 174,286 shares during the last quarter. Finally, Avity Investment Management Inc. acquired a new position in shares of Raymond James during the first quarter valued at $18,548,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Raymond James Stock Performance

RJF stock opened at $124.31 on Friday. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market cap of $25.60 billion, a PE ratio of 15.03, a P/E/G ratio of 0.81 and a beta of 1.02. The business’s 50-day moving average price is $115.34 and its two-hundred day moving average price is $120.32.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the business posted $1.85 EPS. Raymond James’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio is 21.77%.

Analysts Set New Price Targets

A number of brokerages recently commented on RJF. Wells Fargo & Company initiated coverage on Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective for the company. UBS Group dropped their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. TD Cowen upped their target price on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $130.70.

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.