New York State Common Retirement Fund Has $45.13 Million Holdings in Raymond James Financial, Inc. (NYSE:RJF)

New York State Common Retirement Fund lessened its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 324,862 shares of the financial services provider’s stock after selling 5,025 shares during the period. New York State Common Retirement Fund owned 0.16% of Raymond James Financial worth $45,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial during the 1st quarter worth $25,000. TCTC Holdings LLC lifted its position in Raymond James Financial by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in Raymond James Financial during the 1st quarter worth $27,000. Golden State Wealth Management LLC lifted its position in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 123 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new position in Raymond James Financial during the 1st quarter worth $33,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider directly owned 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on RJF shares. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $143.00 to $151.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. JMP Securities upped their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a research report on Monday. Wells Fargo & Company upped their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday. Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Finally, Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research note on Monday. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $160.50.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $159.43 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $32.17 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.31 and a beta of 1.02. Raymond James Financial, Inc. has a 1-year low of $104.24 and a 1-year high of $174.32. The firm’s 50-day moving average price is $150.08 and its two-hundred day moving average price is $149.73.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. Raymond James Financial’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 earnings per share. On average, equities analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. Raymond James Financial’s payout ratio is 19.25%.

Raymond James Financial 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.