California State Teachers Retirement System Has $42.93 Million Stake in Raymond James (NYSE:RJF)

California State Teachers Retirement System lifted its position in shares of Raymond James (NYSE:RJF - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 276,397 shares of the financial services provider's stock after acquiring an additional 12,616 shares during the quarter. California State Teachers Retirement System owned approximately 0.13% of Raymond James worth $42,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RJF. Barclays PLC raised its position in shares of Raymond James by 33.5% during the third quarter. Barclays PLC now owns 847,108 shares of the financial services provider's stock worth $103,738,000 after acquiring an additional 212,697 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock valued at $556,533,000 after purchasing an additional 488,245 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Raymond James by 0.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,095 shares of the financial services provider's stock valued at $5,451,000 after purchasing an additional 249 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in Raymond James by 6.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,832 shares of the financial services provider's stock valued at $440,000 after purchasing an additional 172 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Raymond James by 15.2% in the fourth quarter. Blue Trust Inc. now owns 5,407 shares of the financial services provider's stock valued at $840,000 after purchasing an additional 713 shares during the last quarter. Institutional investors own 83.83% of the company's stock.

Insider Buying and Selling

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider now directly owns 74,586 shares in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Raymond James Price Performance

Raymond James stock traded down $0.76 during midday trading on Friday, reaching $146.97. The company's stock had a trading volume of 2,849,562 shares, compared to its average volume of 1,315,266. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $140.25 and a 200-day moving average price of $152.18. The stock has a market cap of $29.65 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the business posted $2.31 earnings per share. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James's dividend payout ratio is currently 19.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RJF shares. Bank of America downgraded Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a report on Wednesday, April 30th. Morgan Stanley increased their price objective on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price objective on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Wells Fargo & Company reduced their price target on Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. reduced their price target on Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Eleven equities 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $153.82.

Raymond James 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.