New York State Teachers Retirement System Lowers Stock Holdings in Raymond James (NYSE:RJF)

New York State Teachers Retirement System lowered its position in Raymond James (NYSE:RJF - Free Report) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 210,144 shares of the financial services provider's stock after selling 14,374 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Raymond James worth $25,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Trust Direct Indexing L.P. lifted its holdings in shares of Raymond James by 6.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,843 shares of the financial services provider's stock valued at $494,000 after buying an additional 227 shares during the period. Norden Group LLC increased its holdings in Raymond James by 75.5% in the 1st quarter. Norden Group LLC now owns 4,439 shares of the financial services provider's stock worth $570,000 after acquiring an additional 1,909 shares in the last quarter. Retirement Systems of Alabama raised its position in Raymond James by 0.3% during the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider's stock worth $5,332,000 after acquiring an additional 107 shares during the period. Private Advisor Group LLC lifted its holdings in Raymond James by 3.6% during the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider's stock valued at $344,000 after purchasing an additional 93 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Raymond James by 10.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,227 shares of the financial services provider's stock worth $3,496,000 after buying an additional 2,616 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Stock Down 2.7 %

NYSE:RJF traded down $3.93 during mid-day trading on Friday, hitting $144.29. The stock had a trading volume of 1,540,038 shares, compared to its average volume of 1,141,594. Raymond James has a twelve month low of $97.05 and a twelve month high of $151.59. The stock has a 50-day simple moving average of $126.85 and a two-hundred day simple moving average of $122.01. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $29.72 billion, a PE ratio of 15.12, a PEG ratio of 0.75 and a beta of 1.02.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company's revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $2.13 EPS. On average, equities research analysts anticipate that Raymond James will post 10.73 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Tuesday, October 1st. Raymond James's dividend payout ratio (DPR) is 18.54%.

Insider Transactions at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.74% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent research reports. TD Cowen lifted their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on Raymond James from $140.00 to $152.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. UBS Group cut their price target on Raymond James from $138.00 to $135.00 and set a "neutral" rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group lifted their price objective on Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. Finally, JMP Securities upped their target price on Raymond James from $146.00 to $150.00 and gave the company a "market outperform" rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Raymond James currently has an average rating of "Hold" and an average target price of $140.91.

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.