State of Alaska Department of Revenue Trims Stock Position in Raymond James (NYSE:RJF)

State of Alaska Department of Revenue lowered its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 26.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,876 shares of the financial services provider's stock after selling 7,699 shares during the quarter. State of Alaska Department of Revenue's holdings in Raymond James were worth $3,242,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its position in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock valued at $25,000 after buying an additional 198 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 127 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Raymond James in the third quarter worth approximately $34,000. Peterson Financial Group Inc. purchased a new stake in shares of Raymond James during the third quarter worth approximately $37,000. Finally, Quarry LP raised its stake in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 187 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Trading Down 0.5 %

RJF traded down $0.76 during mid-day trading on Thursday, hitting $160.34. 1,560,433 shares of the stock were exchanged, compared to its average volume of 1,299,746. The company has a market cap of $32.77 billion, a PE ratio of 15.64, a PEG ratio of 0.98 and a beta of 1.03. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm's fifty day moving average is $161.75 and its two-hundred day moving average is $143.16. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. Equities analysts forecast that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.50 dividend. This is a boost from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, January 2nd. Raymond James's dividend payout ratio (DPR) is presently 19.51%.

Insider Activity at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business's 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 owns 32,688 shares of the company's stock, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,621 shares of company stock worth $10,729,488. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group raised shares of Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. JMP Securities increased their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a "market outperform" rating in a report on Thursday, January 30th. Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Bank of America increased their price target on Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, TD Cowen boosted their price objective on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $166.09.

Raymond James 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.