Public Employees Retirement Association of Colorado Decreases Stock Holdings in Raymond James (NYSE:RJF)

Public Employees Retirement Association of Colorado lessened its holdings in Raymond James (NYSE:RJF) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,727 shares of the financial services provider’s stock after selling 699 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Raymond James were worth $2,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RJF. Smithfield Trust Co raised its position in Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd boosted its holdings in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the fourth quarter valued at approximately $33,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the first quarter valued at approximately $33,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Raymond James by 46.9% during the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. UBS Group cut their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lowered their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group upped their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Wells Fargo & Company began coverage on shares of Raymond James in a research report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price target for the company. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $130.70.

Raymond James Stock Performance

Shares of RJF opened at $124.67 on Tuesday. The stock has a market capitalization of $25.84 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. The business’s fifty day moving average price is $115.47 and its 200 day moving average price is $120.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

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

Raymond James Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling

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

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.