California State Teachers Retirement System Sells 3,323 Shares of Raymond James (NYSE:RJF)

California State Teachers Retirement System trimmed its position in shares of Raymond James (NYSE:RJF) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,876 shares of the financial services provider’s stock after selling 3,323 shares during the quarter. California State Teachers Retirement System owned 0.14% of Raymond James worth $36,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Raymond James during the fourth quarter worth $30,000. Smithfield Trust Co raised its holdings in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares during the period. Covestor Ltd raised its holdings in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Raymond James during the fourth quarter worth $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James during the first quarter worth $33,000. 83.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RJF. Bank of America dropped their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Morgan Stanley lifted 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 note on Tuesday, April 9th. UBS Group lowered their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Ten 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 target price of $129.89.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 11,095 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.74% of the stock is owned by insiders.

Raymond James Stock Performance

Shares of NYSE:RJF traded up $0.49 on Wednesday, reaching $116.00. 1,401,040 shares of the company’s stock were exchanged, compared to its average volume of 1,132,831. The company has a fifty day moving average of $118.97 and a 200-day moving average of $120.10. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.78 and a beta of 1.02. 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 (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm posted $1.85 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s payout ratio is 21.77%.

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.