Texas Permanent School Fund Decreases Holdings in Raymond James (RJF)

Texas Permanent School Fund decreased its position in Raymond James (NYSE:RJF) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,680 shares of the financial services provider’s stock after selling 1,806 shares during the quarter. Texas Permanent School Fund’s holdings in Raymond James were worth $2,831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in Raymond James by 14.9% in the first quarter. IFP Advisors Inc now owns 6,639 shares of the financial services provider’s stock worth $594,000 after purchasing an additional 862 shares in the last quarter. Stifel Financial Corp raised its holdings in Raymond James by 6.6% in the first quarter. Stifel Financial Corp now owns 38,703 shares of the financial services provider’s stock worth $3,463,000 after purchasing an additional 2,403 shares in the last quarter. Prudential Financial Inc. raised its holdings in Raymond James by 9.7% in the first quarter. Prudential Financial Inc. now owns 454,472 shares of the financial services provider’s stock worth $40,633,000 after purchasing an additional 40,250 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Raymond James by 3.2% in the first quarter. PNC Financial Services Group Inc. now owns 26,296 shares of the financial services provider’s stock worth $2,351,000 after purchasing an additional 812 shares in the last quarter. Finally, Barometer Capital Management Inc. grew its stake in shares of Raymond James by 11.8% in the first quarter. Barometer Capital Management Inc. now owns 9,500 shares of the financial services provider’s stock worth $849,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Raymond James opened at $91.34 on Friday, according to MarketBeat.com. Raymond James has a 12 month low of $74.14 and a 12 month high of $102.17. The firm has a market capitalization of $13.27 billion, a PE ratio of 17.46, a P/E/G ratio of 0.81 and a beta of 1.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.12.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 25th. The financial services provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.17). Raymond James had a return on equity of 15.93% and a net margin of 10.87%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. equities analysts anticipate that Raymond James will post 6.6 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Monday, July 2nd were paid a $0.30 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, June 29th. Raymond James’s dividend payout ratio is currently 22.94%.

In related news, EVP Jonathan N. Santelli sold 2,270 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $96.99, for a total transaction of $220,167.30. Following the sale, the executive vice president now directly owns 3,000 shares of the company’s stock, valued at $290,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.46% of the company’s stock.

RJF has been the topic of a number of recent research reports. Credit Suisse Group raised Raymond James from an “underperform” rating to a “neutral” rating and cut their target price for the stock from $99.00 to $82.00 in a research note on Friday, April 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $107.00 target price on shares of Raymond James in a research note on Monday, April 9th. ValuEngine cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Wells Fargo & Co increased their target price on Raymond James from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 12th. Finally, Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating in a research note on Thursday, May 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Raymond James presently has a consensus rating of “Hold” and an average price target of $103.75.

About Raymond James

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.

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

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