State of Alaska Department of Revenue Sells 5,015 Shares of Raymond James (NYSE:RJF)

State of Alaska Department of Revenue lessened its stake in Raymond James (NYSE:RJF) by 12.3% in the first quarter, HoldingsChannel reports. The firm owned 35,685 shares of the financial services provider’s stock after selling 5,015 shares during the period. State of Alaska Department of Revenue’s holdings in Raymond James were worth $4,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board grew its position in Raymond James by 4.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 240 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Raymond James by 86.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 2,047 shares during the period. Hsbc Holdings PLC grew its position in Raymond James by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock worth $49,603,000 after purchasing an additional 89,981 shares during the period. BNP Paribas Financial Markets grew its position in Raymond James by 44.5% in the 4th quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock worth $12,349,000 after purchasing an additional 34,101 shares during the period. Finally, American Century Companies Inc. grew its position in Raymond James by 26.0% in the 3rd quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock worth $16,668,000 after purchasing an additional 34,200 shares during the period. Institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Raymond James Stock Down 1.1 %

RJF opened at $120.73 on Friday. The stock has a market cap of $25.02 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.02. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. The firm’s fifty day moving average is $122.37 and its 200 day moving average is $119.47.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 EPS. On average, sell-side analysts forecast that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s payout ratio is currently 21.77%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Citigroup boosted their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Bank of America cut their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Morgan Stanley boosted their price objective on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $126.22.

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.