Teacher Retirement System of Texas Has $14.81 Million Stake in Raymond James Financial, Inc. (NYSE:RJF)

Teacher Retirement System of Texas lowered its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 48.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 106,641 shares of the financial services provider's stock after selling 99,904 shares during the period. Teacher Retirement System of Texas owned 0.05% of Raymond James Financial worth $14,814,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial during the first quarter worth approximately $25,000. TCTC Holdings LLC lifted its position in Raymond James Financial by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in Raymond James Financial during the first quarter worth approximately $27,000. Golden State Wealth Management LLC lifted its position in Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares during the last quarter. Finally, Covestor Ltd lifted its position in Raymond James Financial by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after acquiring an additional 122 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on RJF. JMP Securities restated a "market outperform" rating and set a $175.00 price objective on shares of Raymond James Financial in a research report on Thursday, April 24th. The Goldman Sachs Group dropped 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 research report on Thursday, April 3rd. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on Raymond James Financial from $149.00 to $143.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $153.82.

Raymond James Financial Price Performance

NYSE RJF traded up $1.70 on Friday, hitting $159.88. 599,865 shares of the company's stock were exchanged, compared to its average volume of 1,331,322. The stock has a 50-day moving average of $148.07 and a 200-day moving average of $149.67. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial, Inc. has a 52 week low of $104.24 and a 52 week high of $174.32. The stock has a market cap of $32.26 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.92 and a beta of 1.02.

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). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. Raymond James Financial's dividend payout ratio (DPR) is presently 19.25%.

Insider Buying and Selling at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction 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 transaction, the insider directly owned 78,227 shares in the company, 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 the company's 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 of the company's stock, valued at $10,935,053.46. This trade 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 currently owned by corporate insiders.

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.