Kentucky Retirement Systems Has $1.58 Million Stock Holdings in Raymond James (NYSE:RJF)

Kentucky Retirement Systems reduced its stake in shares of Raymond James (NYSE:RJF) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,912 shares of the financial services provider’s stock after selling 1,146 shares during the period. Kentucky Retirement Systems’ holdings in Raymond James were worth $1,581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RJF. Bessemer Group Inc. raised its holdings in shares of Raymond James by 1,138.5% during the first quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after acquiring an additional 17,499 shares during the period. Atria Investments Inc increased its holdings in Raymond James by 37.3% during the 1st quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after purchasing an additional 8,507 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Raymond James by 390.7% in the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 6,649 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Raymond James by 105.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after purchasing an additional 15,940 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after buying an additional 7,028 shares during the period. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. reduced their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. JMP Securities lifted their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Finally, Bank of America increased their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $140.91.

Raymond James Stock Performance

Shares of RJF stock opened at $163.42 on Tuesday. The firm has a 50-day moving average of $136.16 and a 200-day moving average of $124.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market cap of $33.66 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.81 and a beta of 0.99. Raymond James has a one year low of $102.42 and a one year high of $164.33.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the business posted $2.13 earnings per share. The business’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts forecast that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Tuesday, October 1st. Raymond James’s payout ratio is currently 18.54%.

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.