New York State Teachers Retirement System Has $30.92 Million Stake in Raymond James Financial, Inc. $RJF

by · The Cerbat Gem

New York State Teachers Retirement System boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,631 shares of the financial services provider’s stock after acquiring an additional 331 shares during the quarter. New York State Teachers Retirement System’s holdings in Raymond James Financial were worth $30,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RJF. D.A. Davidson & CO. increased its stake in shares of Raymond James Financial by 3.6% during the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 197 shares during the last quarter. Abacus Planning Group Inc. acquired a new position in Raymond James Financial during the second quarter worth approximately $222,000. Swedbank AB lifted its position in shares of Raymond James Financial by 173.0% in the second quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock valued at $4,846,000 after buying an additional 20,022 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 123 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Raymond James Financial by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider’s stock worth $65,058,000 after acquiring an additional 3,691 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Price Performance

NYSE:RJF opened at $161.50 on Friday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The firm’s 50-day simple moving average is $167.39 and its 200 day simple moving average is $155.13. The firm has a market cap of $32.20 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.22 and a beta of 1.03.

Raymond James Financial (NYSE:RJF – Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company earned $2.39 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

RJF has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Morgan Stanley raised their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. BMO Capital Markets started coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $180.00 target price for the company. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $172.20.

Check Out Our Latest Stock Analysis on Raymond James Financial

Raymond James Financial Company Profile

(Free Report)

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.

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