State of Tennessee Department of Treasury Sells 3,047 Shares of Raymond James (NYSE:RJF)

State of Tennessee Department of Treasury trimmed its holdings in Raymond James (NYSE:RJF - Free Report) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,479 shares of the financial services provider's stock after selling 3,047 shares during the quarter. State of Tennessee Department of Treasury's holdings in Raymond James were worth $10,482,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RJF. TCTC Holdings LLC lifted its holdings in shares of Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after buying an additional 106 shares during the period. Y.D. More Investments Ltd lifted its holdings in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its position in shares of Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd grew its stake in shares of Raymond James by 56.7% in the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in shares of Raymond James in the 4th quarter worth approximately $53,000. Institutional investors own 83.83% of the company's stock.

Raymond James Stock Down 0.5 %

Shares of NYSE:RJF traded down $0.70 during trading on Tuesday, reaching $136.89. 190,728 shares of the company traded hands, compared to its average volume of 1,291,070. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The firm has a fifty day simple moving average of $139.99 and a 200 day simple moving average of $152.07. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $28.05 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF - Get Free Report) last posted 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). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Raymond James's revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 earnings per share. Analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.46%. Raymond James's dividend payout ratio (DPR) is currently 19.25%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RJF. The Goldman Sachs Group decreased their price target on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley upped their target price on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Cowen reissued a "hold" rating on shares of Raymond James in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group raised shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $157.64.

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.