Illinois Municipal Retirement Fund Has $17.82 Million Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Illinois Municipal Retirement Fund boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 36.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,279 shares of the financial services provider's stock after acquiring an additional 34,320 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Raymond James Financial worth $17,819,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RJF. Norges Bank acquired a new stake in Raymond James Financial in the fourth quarter worth about $294,647,000. Raymond James Financial Inc. bought a new stake in shares of Raymond James Financial during the 4th quarter worth about $105,701,000. GAMMA Investing LLC lifted its stake in shares of Raymond James Financial by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after acquiring an additional 672,164 shares during the period. Select Equity Group L.P. bought a new position in shares of Raymond James Financial in the fourth quarter valued at approximately $81,611,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Raymond James Financial by 433.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock valued at $88,144,000 after acquiring an additional 461,069 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Citigroup dropped their price target on shares of Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered their price objective on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $153.82.

Raymond James Financial Stock Up 0.4%

NYSE:RJF traded up $0.63 during trading hours on Friday, hitting $153.24. 1,843,937 shares of the stock traded hands, compared to its average volume of 1,326,506. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.82 and a beta of 1.03. The firm has a 50 day moving average price of $145.48 and a 200 day moving average price of $149.85. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same period in the prior year, the company posted $2.31 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 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 Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.31%. Raymond James Financial's dividend payout ratio is presently 19.25%.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider now directly owns 74,586 shares of the company's stock, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider now owns 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

About Raymond James Financial

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.