Raymond James (NYSE:RJF) Holdings Trimmed by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in shares of Raymond James (NYSE:RJF) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,208 shares of the financial services provider’s stock after selling 487 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Raymond James were worth $797,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RJF. AGF Management Ltd. increased its holdings in shares of Raymond James by 5.9% during the 4th quarter. AGF Management Ltd. now owns 2,147,825 shares of the financial services provider’s stock valued at $239,482,000 after acquiring an additional 120,427 shares during the last quarter. Norges Bank acquired a new position in shares of Raymond James during the 4th quarter valued at about $238,830,000. Dimensional Fund Advisors LP increased its holdings in shares of Raymond James by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after acquiring an additional 263,687 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Raymond James by 8.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,082,745 shares of the financial services provider’s stock valued at $120,726,000 after acquiring an additional 88,700 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Raymond James by 5.0% during the 1st quarter. Sei Investments Co. now owns 849,914 shares of the financial services provider’s stock valued at $109,146,000 after acquiring an additional 40,288 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Bank of America lowered their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Citigroup raised their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. TD Cowen raised their target price on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $129.89.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.74% of the company’s stock.

Raymond James Price Performance

Shares of Raymond James stock traded down $1.33 during midday trading on Friday, hitting $116.68. 2,179,049 shares of the company were exchanged, compared to its average volume of 1,712,701. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The firm has a market cap of $24.19 billion, a P/E ratio of 14.11, a PEG ratio of 0.73 and a beta of 1.02. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The firm has a 50 day simple moving average of $119.50 and a 200-day simple moving average of $120.05.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.67% and a net margin of 13.16%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company earned $1.85 EPS. Raymond James’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Raymond James will post 9.57 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a dividend of $0.45 per share. The ex-dividend date was Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. Raymond James’s dividend payout ratio is 21.77%.

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.