Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,862 shares of the financial services provider's stock after selling 5,025 shares during the period. New York State Common Retirement Fund owned 0.16% of Raymond James Financial worth $45,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Raymond James Financial during the 4th quarter worth approximately $294,647,000. GAMMA Investing LLC lifted its position 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 worth $93,740,000 after acquiring an additional 672,164 shares during the period. Select Equity Group L.P. acquired a new stake in Raymond James Financial during the 4th quarter worth approximately $81,611,000. Northern Trust Corp lifted its position in Raymond James Financial by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock worth $327,314,000 after acquiring an additional 327,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Raymond James Financial by 17.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,696 shares of the financial services provider's stock worth $236,054,000 after acquiring an additional 226,633 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RJF shares. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. The Goldman Sachs Group cut their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Morgan Stanley increased their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Raymond James Financial currently has an average rating of "Hold" and an average target price of $162.40.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider directly owned 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James E. Bunn sold 3,650 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider owned 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. 0.54% of the stock is owned by corporate insiders.

Raymond James Financial Price Performance

Raymond James Financial stock traded down $0.12 during mid-day trading on Wednesday, reaching $156.15. The company had a trading volume of 1,340,122 shares, compared to its average volume of 1,316,134. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The company has a market capitalization of $31.50 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.30 and a beta of 1.02. The stock's 50-day simple moving average is $150.99 and its 200-day simple moving average is $149.84.

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

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Raymond James Financial's dividend payout ratio is presently 19.25%.

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.