Kentucky Retirement Systems Insurance Trust Fund Has $797,000 Stock Holdings in Raymond James (NYSE:RJF)

Kentucky Retirement Systems Insurance Trust Fund cut its position in Raymond James (NYSE:RJF) by 7.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,208 shares of the financial services provider’s stock after selling 487 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Raymond James were worth $797,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Raymond James in the 4th quarter valued at about $30,000. Smithfield Trust Co lifted its position in Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares in the last quarter. Covestor Ltd lifted its position in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in Raymond James in the 4th quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC bought a new position in Raymond James in the 1st quarter valued at about $33,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of RJF stock traded down $1.33 during trading hours on Friday, hitting $116.68. 2,179,049 shares of the company were exchanged, compared to its average volume of 1,712,701. The firm has a fifty day simple moving average of $119.50 and a 200 day simple moving average of $120.05. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The stock has a market capitalization of $24.19 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 0.73 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.67%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the business posted $1.85 EPS. Raymond James’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Raymond James will post 9.57 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. Raymond James’s dividend payout ratio is currently 21.77%.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on 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 sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Jefferies Financial Group raised their price target on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Morgan Stanley raised their price target 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. JPMorgan Chase & Co. dropped their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, TD Cowen lifted their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $129.89.

About Raymond James

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.