California State Teachers Retirement System Trims Stake in Raymond James Financial, Inc. $RJF

California State Teachers Retirement System lessened its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,627 shares of the financial services provider's stock after selling 9,520 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Raymond James Financial worth $39,471,093 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RJF. Wedmont Private Capital boosted its position in Raymond James Financial by 4.0% in the 2nd quarter. Wedmont Private Capital now owns 10,764 shares of the financial services provider's stock valued at $1,810,000 after buying an additional 410 shares during the last quarter. Nilsine Partners LLC grew its holdings in Raymond James Financial by 2.1% during the second quarter. Nilsine Partners LLC now owns 14,060 shares of the financial services provider's stock worth $2,138,000 after purchasing an additional 285 shares during the period. Saudi Central Bank boosted its stake in Raymond James Financial by 79.3% in the second quarter. Saudi Central Bank now owns 12,417 shares of the financial services provider's stock valued at $1,888,000 after buying an additional 5,493 shares in the last quarter. AlphaGrep UK Ltd acquired a new stake in shares of Raymond James Financial during the second quarter worth $919,000. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its stake in shares of Raymond James Financial by 2.7% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 491,089 shares of the financial services provider's stock worth $74,660,000 after buying an additional 12,700 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Performance

RJF traded down $1.47 on Tuesday, hitting $169.34. 294,072 shares of the company traded hands, compared to its average volume of 1,350,224. The company has a 50 day moving average of $174.54 and a 200-day moving average of $159.40. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $32.57 billion, a PE ratio of 14.76, a PEG ratio of 1.06 and a beta of 0.91. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 EPS. Sell-side analysts anticipate that Raymond James Financial, Inc. will post 12.08 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 1st. Raymond James Financial's dividend payout ratio is 18.83%.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider owned 43,046 shares of the company's stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bella Allaire sold 7,500 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the sale, the insider owned 46,086 shares of the company's stock, valued at approximately $8,184,873.60. This represents a 14.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,270 shares of company stock valued at $4,090,637. 0.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen decreased their price objective on Raymond James Financial from $161.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, September 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research report on Monday, August 17th. Truist Financial set a $188.00 price objective on shares of Raymond James Financial and gave the company a "hold" rating in a research note on Tuesday, September 1st. Morgan Stanley lifted their target price on Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on Raymond James Financial from $175.00 to $179.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $181.46.

Raymond James Financial Profile

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Founded in 1962, the company provides investment, wealth management and financial planning services to individuals, corporations, institutions and municipalities.

Through its principal businesses, Raymond James offers securities brokerage, investment advisory, retirement planning, trust services and banking products. Its operations also include equity and debt capital markets, investment banking, institutional sales and trading, research, and asset management.

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