Illinois Municipal Retirement Fund Cuts Stock Position in Raymond James Financial, Inc. $RJF

Illinois Municipal Retirement Fund lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 9.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,144 shares of the financial services provider’s stock after selling 16,698 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Raymond James Financial were worth $22,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RJF. Kingsview Wealth Management LLC boosted its stake in Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after acquiring an additional 17,407 shares during the last quarter. Algebris UK Ltd. purchased a new stake in shares of Raymond James Financial during the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC raised its holdings in shares of Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after purchasing an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Raymond James Financial by 7.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after purchasing an additional 7,202 shares during the period. Finally, Swedbank AB lifted its stake in Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after purchasing an additional 9,838 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Financial Stock Up 1.7%

RJF opened at $170.26 on Thursday. The company has a 50 day moving average of $154.95 and a 200 day moving average of $156.30. The company has a market cap of $33.18 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.42 EPS. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 11.84 EPS for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Analyst Ratings Changes

Several equities analysts have weighed in on RJF shares. Citizens Jmp increased their price objective on Raymond James Financial from $190.00 to $200.00 and gave the company a “market outperform” rating in a report on Thursday, July 9th. UBS Group restated a “neutral” rating and issued a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. TD Cowen dropped their price target on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. BMO Capital Markets increased their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Finally, Barclays lifted their price objective on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $176.64.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.