State of Alaska Department of Revenue Lowers Stock Holdings in Raymond James (NYSE:RJF)

State of Alaska Department of Revenue trimmed its stake in Raymond James (NYSE:RJF – Get Rating) by 16.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,822 shares of the financial services provider’s stock after selling 33,150 shares during the period. State of Alaska Department of Revenue owned about 0.08% of Raymond James worth $18,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Intrust Bank NA boosted its position in Raymond James by 1.9% in the 3rd quarter. Intrust Bank NA now owns 5,344 shares of the financial services provider’s stock valued at $528,000 after buying an additional 101 shares during the period. Moody National Bank Trust Division boosted its position in Raymond James by 1.2% in the 4th quarter. Moody National Bank Trust Division now owns 8,555 shares of the financial services provider’s stock valued at $914,000 after buying an additional 105 shares during the period. Wetherby Asset Management Inc. boosted its position in Raymond James by 5.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 2,520 shares of the financial services provider’s stock valued at $277,000 after buying an additional 121 shares during the period. King Luther Capital Management Corp boosted its position in Raymond James by 0.9% in the 2nd quarter. King Luther Capital Management Corp now owns 15,172 shares of the financial services provider’s stock valued at $1,357,000 after buying an additional 131 shares during the period. Finally, Salem Investment Counselors Inc. lifted its position in shares of Raymond James by 5.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,458 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 133 shares during the period. 74.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RJF. Credit Suisse Group lowered their price target on shares of Raymond James from $119.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. The Goldman Sachs Group lowered their price target on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, January 4th. UBS Group lowered their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. StockNews.com began coverage on shares of Raymond James in a research report on Thursday. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $120.00 to $126.00 and gave the stock a “market perform” rating in a research report on Thursday, January 12th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $122.86.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Jodi Perry sold 6,343 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $112.30, for a total transaction of $712,318.90. Following the transaction, the insider now owns 7,150 shares in the company, valued at approximately $802,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.46% of the stock is currently owned by company insiders.

Raymond James Stock Down 1.6 %

Shares of NYSE RJF traded down $1.44 during trading hours on Friday, hitting $88.02. 3,164,906 shares of the stock were exchanged, compared to its average volume of 1,564,180. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. The company has a market cap of $18.96 billion, a PE ratio of 12.26 and a beta of 1.05. The firm has a fifty day moving average price of $108.88 and a 200-day moving average price of $109.71. Raymond James has a 12 month low of $84.86 and a 12 month high of $126.00.

Raymond James (NYSE:RJF – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. Raymond James had a net margin of 13.65% and a return on equity of 17.78%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the prior year, the business posted $2.12 EPS. Raymond James’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Raymond James will post 9.44 EPS for the current year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Monday, April 3rd will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, March 31st. This represents a $1.68 dividend on an annualized basis and a yield of 1.91%. Raymond James’s payout ratio is 23.40%.

Raymond James Company Profile

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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.