Retirement Systems of Alabama Has $6.15 Million Stock Holdings in Raymond James (NYSE:RJF)

Retirement Systems of Alabama reduced its position in shares of Raymond James (NYSE:RJF) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,615 shares of the financial services provider’s stock after selling 1,151 shares during the quarter. Retirement Systems of Alabama’s holdings in Raymond James were worth $6,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Gladius Capital Management LP bought a new position in shares of Raymond James in the third quarter valued at $34,000. Peterson Financial Group Inc. acquired a new position in shares of Raymond James during the third quarter valued at about $37,000. Quarry LP increased its position in shares of Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Raymond James in the 4th quarter worth about $68,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Down 0.6 %

Shares of RJF stock opened at $167.46 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The stock has a market capitalization of $34.22 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.98 and a beta of 1.03. The firm’s 50 day moving average is $162.09 and its 200 day moving average is $142.28.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. Research analysts expect that Raymond James will post 11.12 earnings per share for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. Raymond James’s payout ratio is currently 19.51%.

Insiders Place Their Bets

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 in the last three months. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on RJF. Wells Fargo & Company boosted their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Citigroup raised their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. StockNews.com upgraded shares of Raymond James from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $166.09.

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.