Raymond James Financial, Inc. (RJF) Shares Bought by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky raised its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 821.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 201,460 shares of the financial services provider’s stock after buying an additional 179,600 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.14% of Raymond James Financial worth $16,161,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Raymond James Financial by 13.2% in the 1st quarter. Bank of America Corp DE now owns 898,931 shares of the financial services provider’s stock valued at $68,554,000 after buying an additional 105,145 shares during the last quarter. Bank of Nova Scotia acquired a new stake in Raymond James Financial in the 1st quarter valued at approximately $2,243,000. Greenwood Capital Associates LLC acquired a new stake in Raymond James Financial in the 2nd quarter valued at approximately $300,000. Alliancebernstein L.P. grew its holdings in Raymond James Financial by 132.5% in the 1st quarter. Alliancebernstein L.P. now owns 240,437 shares of the financial services provider’s stock valued at $18,336,000 after buying an additional 137,022 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Raymond James Financial in the 1st quarter valued at approximately $3,614,000. 70.02% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the transaction, the chief executive officer now owns 128,980 shares in the company, valued at $10,727,266.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the transaction, the insider now owns 37,513 shares in the company, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by company insiders.
A number of analysts have issued reports on RJF shares. Zacks Investment Research lowered Raymond James Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Nomura raised their target price on Raymond James Financial from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 13th. BidaskClub raised Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a report on Monday, June 26th. Finally, Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $86.00 to $90.00 in a report on Thursday, September 14th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Raymond James Financial currently has a consensus rating of “Buy” and an average price target of $89.33.
Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.90%.
Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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