California Public Employees Retirement System Sells 15,588 Shares of Raymond James (NYSE:RJF)

California Public Employees Retirement System decreased its holdings in Raymond James (NYSE:RJF) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 354,258 shares of the financial services provider’s stock after selling 15,588 shares during the quarter. California Public Employees Retirement System’s holdings in Raymond James were worth $39,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RJF. Steph & Co. grew its position in Raymond James by 9.3% during the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 91 shares during the last quarter. Federated Hermes Inc. grew its position in Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 96 shares during the last quarter. Addison Advisors LLC grew its position in Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares during the last quarter. SVB Wealth LLC grew its position in Raymond James by 5.6% during the 3rd quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 108 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its position in Raymond James by 3.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF opened at $121.86 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The stock has a 50 day moving average price of $123.10 and a two-hundred day moving average price of $112.50. The firm has a market capitalization of $25.47 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.85 and a beta of 1.05. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 earnings per share. Equities analysts forecast that Raymond James will post 9.45 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is presently 21.77%.

Insider Activity

In other Raymond James news, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RJF shares. Jefferies Financial Group restated a “hold” rating and set a $117.00 price objective (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Morgan Stanley lifted their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. UBS Group cut their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average target price of $126.22.

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.