State of Alaska Department of Revenue Sells 7,699 Shares of Raymond James (NYSE:RJF)

State of Alaska Department of Revenue trimmed its position in shares of Raymond James (NYSE:RJF) by 26.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,876 shares of the financial services provider’s stock after selling 7,699 shares during the quarter. State of Alaska Department of Revenue’s holdings in Raymond James were worth $3,242,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RJF. Wellington Management Group LLP lifted its position in shares of Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after buying an additional 488,245 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares during the period. Two Sigma Advisers LP purchased a new stake in Raymond James in the 3rd quarter valued at about $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in Raymond James in the 3rd quarter worth about $28,985,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Down 0.6 %

NYSE:RJF opened at $167.46 on Monday. The stock has a market capitalization of $34.22 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.98 and a beta of 1.03. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $162.09 and a 200 day moving average of $142.28.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, sell-side analysts anticipate that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is 19.51%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RJF shares. Keefe, Bruyette & Woods boosted their price target on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. StockNews.com upgraded Raymond James from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Citigroup raised their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $166.09.

Insider Activity at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at $13,319,326.02. The trade was a 4.11 % 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. 0.54% of the stock is owned by insiders.

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.