New York State Common Retirement Fund Raises Position in Raymond James Financial, Inc. (RJF)

New York State Common Retirement Fund increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 642,475 shares of the financial services provider’s stock after purchasing an additional 7,200 shares during the period. New York State Common Retirement Fund owned 0.45% of Raymond James Financial worth $54,180,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RJF. Strs Ohio raised its position in shares of Raymond James Financial by 51.7% during the 2nd quarter. Strs Ohio now owns 18,263 shares of the financial services provider’s stock worth $1,465,000 after purchasing an additional 6,226 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Raymond James Financial by 379.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 14,128 shares of the financial services provider’s stock valued at $1,133,000 after acquiring an additional 11,183 shares during the last quarter. Sei Investments Co. raised its holdings in Raymond James Financial by 15.0% in the 2nd quarter. Sei Investments Co. now owns 111,888 shares of the financial services provider’s stock valued at $8,975,000 after acquiring an additional 14,632 shares during the last quarter. Korea Investment CORP raised its holdings in Raymond James Financial by 1.1% in the 2nd quarter. Korea Investment CORP now owns 87,513 shares of the financial services provider’s stock valued at $7,020,000 after acquiring an additional 924 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Raymond James Financial by 0.5% in the 2nd quarter. Retirement Systems of Alabama now owns 62,148 shares of the financial services provider’s stock valued at $4,986,000 after acquiring an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 69.86% of the company’s stock.

Shares of Raymond James Financial, Inc. (RJF) traded down $1.79 during midday trading on Wednesday, hitting $88.32. 699,300 shares of the stock traded hands, compared to its average volume of 784,133. Raymond James Financial, Inc. has a one year low of $68.97 and a one year high of $91.29. The stock has a market cap of $13,011.93, a PE ratio of 17.74, a PEG ratio of 0.90 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.15. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the company earned $1.28 EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. sell-side analysts forecast that Raymond James Financial, Inc. will post 5.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Raymond James Financial’s payout ratio is currently 20.32%.

In related news, SVP George Catanese sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.63, for a total transaction of $171,260.00. Following the completion of the sale, the senior vice president now directly owns 6,678 shares of the company’s stock, valued at approximately $571,837.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $85.51, for a total transaction of $3,847,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 280,812 shares of company stock valued at $24,145,735 over the last three months. Corporate insiders own 11.18% of the company’s stock.

Several research analysts have weighed in on the company. Credit Suisse Group assumed coverage on Raymond James Financial in a report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 price target for the company. Buckingham Research boosted their price target on Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a report on Tuesday, October 3rd. Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $86.00 to $90.00 in a report on Thursday, September 14th. Finally, Zacks Investment Research upgraded Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Raymond James Financial currently has a consensus rating of “Buy” and an average target price of $88.57.

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Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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