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

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Raymond James (NYSE:RJF) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,488 shares of the financial services provider’s stock after selling 529 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Raymond James were worth $672,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RJF. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Quarry LP acquired a new stake in shares of Raymond James in the 2nd quarter worth approximately $29,000. Covestor Ltd boosted its holdings in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the third quarter valued at approximately $32,000. Finally, Rothschild Investment LLC bought a new stake in Raymond James during the second quarter worth approximately $62,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of Raymond James stock opened at $163.42 on Tuesday. The stock has a market cap of $33.66 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. Raymond James has a 12 month low of $102.42 and a 12 month high of $164.33. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $136.16 and a 200-day simple moving average of $124.81.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 EPS. On average, sell-side analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RJF shares. Jefferies Financial Group lifted their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group increased their target price on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $140.91.

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.