California Public Employees Retirement System Sells 15,588 Shares of Raymond James (NYSE:RJF)

California Public Employees Retirement System trimmed its holdings in Raymond James (NYSE:RJF - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 354,258 shares of the financial services provider's stock after selling 15,588 shares during the period. California Public Employees Retirement System owned 0.17% of Raymond James worth $39,500,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Stephens Consulting LLC raised its holdings in shares of Raymond James by 188.8% during the 4th quarter. Stephens Consulting LLC now owns 40,624 shares of the financial services provider's stock valued at $4,530,000 after buying an additional 26,556 shares during the period. Duality Advisers LP purchased a new stake in Raymond James during the 4th quarter worth approximately $326,000. Handelsbanken Fonder AB increased its holdings in Raymond James by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 44,316 shares of the financial services provider's stock worth $4,941,000 after purchasing an additional 1,549 shares during the last quarter. CWM LLC increased its holdings in Raymond James by 4.2% during the 4th quarter. CWM LLC now owns 12,852 shares of the financial services provider's stock worth $1,433,000 after purchasing an additional 520 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Raymond James by 13.8% during the 4th quarter. Signaturefd LLC now owns 8,293 shares of the financial services provider's stock worth $925,000 after purchasing an additional 1,004 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RJF. StockNews.com downgraded Raymond James from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Citigroup boosted their price objective on Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price objective on Raymond James from $113.00 to $123.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. TD Cowen reduced their price objective on Raymond James from $131.00 to $126.00 and set a "hold" rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded Raymond James from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $126.22.

Insider Activity at Raymond James

In other news, Director Art A. Garcia bought 879 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company's stock, valued at approximately $98,711.70. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Art A. Garcia purchased 879 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now owns 879 shares in the company, valued at approximately $98,711.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the company's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares of the company's stock, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Raymond James Trading Down 0.1 %

Shares of Raymond James stock traded down $0.09 on Friday, reaching $121.86. 1,197,930 shares of the company were exchanged, compared to its average volume of 1,139,872. The stock has a fifty day moving average price of $123.10 and a 200-day moving average price of $112.59. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 0.85 and a beta of 1.05. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $131.19.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 earnings per share. On average, analysts expect that Raymond James will post 9.45 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James's payout ratio is 21.77%.

Raymond James 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.