Kentucky Retirement Systems Insurance Trust Fund Takes Position in Raymond James Financial, Inc. (NYSE:RJF)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,893 shares of the financial services provider's stock, valued at approximately $819,000.

Several other hedge funds have also recently made changes to their positions in RJF. Norges Bank bought a new stake in shares of Raymond James Financial during the 4th quarter valued at $294,647,000. Raymond James Financial Inc. purchased a new position in shares of Raymond James Financial in the 4th quarter worth about $105,701,000. GAMMA Investing LLC boosted its holdings in Raymond James Financial by 25,259.8% during the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock valued at $93,740,000 after acquiring an additional 672,164 shares during the period. Select Equity Group L.P. purchased a new stake in Raymond James Financial during the 4th quarter valued at about $81,611,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Raymond James Financial by 433.4% during the 4th 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.

Raymond James Financial Stock Performance

Shares of RJF traded up $0.81 during trading hours on Wednesday, hitting $151.69. The stock had a trading volume of 889,809 shares, compared to its average volume of 1,322,811. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month high of $174.32. The firm has a market capitalization of $30.60 billion, a PE ratio of 14.60, a PEG ratio of 1.81 and a beta of 1.03. The stock has a fifty day moving average price of $145.09 and a 200 day moving average price of $149.91.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. Raymond James Financial's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 earnings per share. Analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James Financial's payout ratio is 19.25%.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business'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 sale, the insider now directly owns 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares in the company, valued at $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.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company lowered their price target on Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Cowen reissued a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Bank of America downgraded Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target on the stock. in a research note on Wednesday, April 30th. Citigroup cut their price target on Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their target price on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $153.82.

Raymond James Financial Profile

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.