Raymond James (NYSE:RJF) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in Raymond James (NYSE:RJF) by 35.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,351 shares of the financial services provider’s stock after selling 33,311 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Raymond James were worth $6,729,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Oak Thistle LLC acquired a new position in shares of Raymond James during the 3rd quarter worth about $778,000. Czech National Bank raised its holdings in shares of Raymond James by 45.5% during the third quarter. Czech National Bank now owns 32,852 shares of the financial services provider’s stock valued at $3,299,000 after acquiring an additional 10,274 shares during the last quarter. Cavalier Investments LLC lifted its position in shares of Raymond James by 3.3% in the third quarter. Cavalier Investments LLC now owns 6,578 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 209 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Raymond James by 18.3% in the third quarter. Commonwealth Equity Services LLC now owns 43,235 shares of the financial services provider’s stock worth $4,342,000 after acquiring an additional 6,694 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Raymond James by 5.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,764 shares of the financial services provider’s stock worth $4,596,000 after purchasing an additional 2,200 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RJF shares. Morgan Stanley raised their price objective on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Citigroup increased their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. JMP Securities restated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $116.00 price target (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.88.

Raymond James Stock Up 1.3 %

Shares of NYSE RJF opened at $127.08 on Wednesday. The company has a market capitalization of $26.56 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The company has a 50 day simple moving average of $122.75 and a 200-day simple moving average of $112.17. Raymond James has a 1 year low of $82.00 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $2.29 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Raymond James will post 9.36 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is presently 22.56%.

Insider Buying and Selling

In related news, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Art A. Garcia acquired 879 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the acquisition, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

About Raymond James

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.