Illinois Municipal Retirement Fund Sells 16,698 Shares of Raymond James Financial, Inc. $RJF

Illinois Municipal Retirement Fund reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 154,144 shares of the financial services provider's stock after selling 16,698 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.08% of Raymond James Financial worth $22,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Great Valley Advisor Group Inc. raised its position in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock worth $625,000 after purchasing an additional 61 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after purchasing an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Raymond James Financial by 2.5% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider's stock valued at $447,000 after purchasing an additional 68 shares during the period. Bridgewater Advisors Inc. increased its stake in Raymond James Financial by 1.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider's stock valued at $892,000 after purchasing an additional 68 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Raymond James Financial by 4.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider's stock valued at $297,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RJF shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Citizens Jmp boosted their target price on shares of Raymond James Financial from $190.00 to $200.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 9th. BMO Capital Markets upped their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a report on Thursday, April 23rd. UBS Group reiterated a "neutral" rating and set a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. Finally, Morgan Stanley boosted their price objective on Raymond James Financial from $172.00 to $174.00 and gave the stock an "equal weight" rating in a report on Friday, July 10th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $176.64.

Raymond James Financial Price Performance

RJF opened at $170.26 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The company has a market capitalization of $33.18 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.07 and a beta of 0.93. The firm's fifty day moving average price is $154.95 and its two-hundred day moving average price is $156.30. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts anticipate that Raymond James Financial, Inc. will post 11.84 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial's dividend payout ratio is presently 20.42%.

About Raymond James Financial

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.

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