Retirement Systems of Alabama Has $4.62 Million Stock Holdings in Raymond James (NYSE:RJF)

Retirement Systems of Alabama reduced its holdings in shares of Raymond James (NYSE:RJF) by 2.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 41,416 shares of the financial services provider’s stock after selling 1,084 shares during the period. Retirement Systems of Alabama’s holdings in Raymond James were worth $4,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RJF. Wellington Management Group LLP grew its holdings in shares of Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock worth $1,161,981,000 after purchasing an additional 246,349 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Raymond James by 269.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider’s stock worth $25,923,000 after buying an additional 188,305 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Raymond James during the third quarter worth approximately $12,737,000. Envestnet Asset Management Inc. increased its holdings in shares of Raymond James by 33.1% during the third quarter. Envestnet Asset Management Inc. now owns 472,904 shares of the financial services provider’s stock worth $47,494,000 after buying an additional 117,672 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Raymond James in the third quarter valued at approximately $10,633,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

RJF opened at $125.57 on Tuesday. The company has a fifty day moving average price of $123.65 and a two-hundred day moving average price of $113.48. The firm has a market capitalization of $26.25 billion, a PE ratio of 15.18, a P/E/G ratio of 0.85 and a beta of 1.03. Raymond James has a 52 week low of $84.06 and a 52 week high of $131.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99.

Raymond James (NYSE:RJF) last announced 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). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm earned $2.03 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Raymond James will post 9.56 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.43%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is 21.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Morgan Stanley raised their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Jefferies Financial Group reissued a “hold” rating and set a $117.00 price objective (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, Bank of America dropped their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Raymond James currently has an average rating of “Hold” and an average target price of $126.22.

Insider Buying and Selling

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% 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.