New York State Teachers Retirement System Cuts Stake in Raymond James Financial, Inc. (NYSE:RJF)

New York State Teachers Retirement System trimmed its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,300 shares of the financial services provider's stock after selling 6,283 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Raymond James Financial worth $27,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Raymond James Financial during the fourth quarter valued at approximately $294,647,000. Raymond James Financial Inc. bought a new position in Raymond James Financial during the 4th quarter valued at approximately $105,701,000. GAMMA Investing LLC increased 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 valued at $93,740,000 after buying an additional 672,164 shares in the last quarter. Select Equity Group L.P. purchased a new position in Raymond James Financial during the fourth quarter valued at $81,611,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Raymond James Financial by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock worth $88,144,000 after acquiring an additional 461,069 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider James E. Bunn sold 3,650 shares of the company's 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 directly owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider owned 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RJF shares. Citigroup lowered their price target on Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company 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 note on Wednesday, April 30th. The Goldman Sachs Group dropped their target price 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. JPMorgan Chase & Co. cut their price target on shares of Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Cowen restated a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $153.82.

Raymond James Financial Stock Performance

Raymond James Financial stock traded up $1.30 during midday trading on Thursday, reaching $159.48. 275,373 shares of the company traded hands, compared to its average volume of 1,324,883. Raymond James Financial, Inc. has a 12 month low of $104.24 and a 12 month 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 business has a 50 day moving average of $147.17 and a two-hundred day moving average of $149.69. The firm has a market capitalization of $32.17 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly 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). The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $2.31 earnings per share. As a group, research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. Raymond James Financial's dividend payout ratio is currently 19.25%.

Raymond James Financial Company 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.