Teachers Retirement System of The State of Kentucky Decreases Stake in Raymond James (NYSE:RJF)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Raymond James (NYSE:RJF) by 6.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,024 shares of the financial services provider’s stock after selling 1,045 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Raymond James were worth $1,717,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its holdings in Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after buying an additional 64 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Raymond James by 1.4% in the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 82 shares in the last quarter. Wedmont Private Capital increased its stake in Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 86 shares during the last quarter. Portside Wealth Group LLC raised its holdings in Raymond James by 3.9% during the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 93 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC lifted its position in shares of Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 in the last three months. 9.74% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RJF has been the topic of a number of recent analyst reports. JMP Securities increased their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $169.00 target price (up from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. Bank of America raised their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus price target of $142.45.

Raymond James Price Performance

Raymond James stock opened at $157.90 on Wednesday. The business has a 50 day simple moving average of $153.81 and a 200-day simple moving average of $130.64. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $32.22 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $2.13 EPS. Equities analysts predict that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.50 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.27%. Raymond James’s payout ratio is presently 20.60%.

Raymond James Company 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.