Illinois Municipal Retirement Fund Reduces Stock Holdings in Raymond James (NYSE:RJF)

Illinois Municipal Retirement Fund lessened its stake in Raymond James (NYSE:RJF) by 35.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Raymond James by 26.0% during the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock valued at $16,668,000 after acquiring an additional 34,200 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Raymond James by 29.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 335,385 shares of the financial services provider’s stock worth $37,395,000 after purchasing an additional 77,263 shares during the last quarter. Banque Cantonale Vaudoise raised its position in shares of Raymond James by 13.3% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 318 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Raymond James by 6.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 17,536 shares of the financial services provider’s stock valued at $1,955,000 after buying an additional 997 shares during the last quarter. Finally, Operose Advisors LLC grew its position in shares of Raymond James by 241.3% during the third quarter. Operose Advisors LLC now owns 1,024 shares of the financial services provider’s stock worth $103,000 after buying an additional 724 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Up 1.3 %

Shares of NYSE RJF opened at $127.08 on Wednesday. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The company has a market cap of $26.56 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $122.75 and its 200 day simple moving average is $112.17.

Raymond James (NYSE:RJF) last issued its earnings results 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 firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts expect that Raymond James will post 9.36 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio (DPR) is 22.56%.

Analyst Upgrades and Downgrades

RJF has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Morgan Stanley increased their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $116.00 price target (down from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. Jefferies Financial Group restated a “hold” rating and set a $117.00 price objective (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.88.

Insider Buying and Selling at Raymond James

In other Raymond James news, Director Art A. Garcia bought 879 shares of the business’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the acquisition, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by company insiders.

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.