Texas Permanent School Fund Corp Sells 7,063 Shares of Raymond James Financial, Inc. $RJF

Texas Permanent School Fund Corp reduced its stake in Raymond James Financial, Inc. (NYSE:RJF) by 35.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,783 shares of the financial services provider’s stock after selling 7,063 shares during the period. Texas Permanent School Fund Corp’s holdings in Raymond James Financial were worth $1,961,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RJF. Great Valley Advisor Group Inc. grew its stake in shares of Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after buying an additional 61 shares during the period. Waterloo Capital L.P. boosted its holdings in Raymond James Financial by 2.0% in the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock worth $506,000 after acquiring an additional 64 shares in the last quarter. Level Four Advisory Services LLC grew its stake in Raymond James Financial by 2.4% in the second quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 67 shares during the period. Capital Investment Advisors LLC increased its holdings in shares of Raymond James Financial by 0.9% during the second quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock valued at $1,170,000 after acquiring an additional 68 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in shares of Raymond James Financial by 5.5% during the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RJF shares. JPMorgan Chase & Co. lifted their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Bank of America boosted their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. JMP Securities raised their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. Finally, BMO Capital Markets lifted their price target on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $180.45.

Raymond James Financial Stock Up 1.7%

RJF opened at $163.01 on Monday. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The firm has a market capitalization of $32.06 billion, a P/E ratio of 15.84, a PEG ratio of 1.00 and a beta of 0.99. The company’s 50-day moving average is $160.33 and its 200 day moving average is $161.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.04.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the firm posted $2.95 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, January 2nd. Raymond James Financial’s dividend payout ratio is 20.99%.

Insiders Place Their Bets

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.