Maryland State Retirement & Pension System lessened its stake in shares of Raymond James (NYSE:RJF – Free Report) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,920 shares of the financial services provider’s stock after selling 477 shares during the period. Maryland State Retirement & Pension System’s holdings in Raymond James were worth $1,548,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Raymond James by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 21,689,564 shares of the financial services provider’s stock valued at $2,383,900,000 after buying an additional 410,025 shares during the period. FMR LLC increased its stake in Raymond James by 19.4% in the first quarter. FMR LLC now owns 9,993,550 shares of the financial services provider’s stock worth $932,098,000 after purchasing an additional 1,625,771 shares during the period. Wellington Management Group LLP increased its stake in Raymond James by 3.3% in the first quarter. Wellington Management Group LLP now owns 9,876,933 shares of the financial services provider’s stock worth $921,222,000 after purchasing an additional 312,384 shares during the period. JPMorgan Chase & Co. increased its stake in Raymond James by 26.7% in the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock worth $641,330,000 after purchasing an additional 1,448,047 shares during the period. Finally, Geode Capital Management LLC increased its stake in Raymond James by 1.9% in the first quarter. Geode Capital Management LLC now owns 4,018,058 shares of the financial services provider’s stock worth $373,915,000 after purchasing an additional 76,385 shares during the period. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Raymond James Price Performance
Shares of RJF stock opened at $102.40 on Friday. Raymond James has a 1-year low of $82.00 and a 1-year high of $126.00. The stock’s 50-day moving average is $106.70 and its 200 day moving average is $98.58. The company has a market cap of $21.39 billion, a P/E ratio of 12.93, a PEG ratio of 0.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.95.
Raymond James Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, September 29th. Raymond James’s payout ratio is currently 21.21%.
Analysts Set New Price Targets
A number of analysts have weighed in on RJF shares. Jefferies Financial Group increased their target price on Raymond James from $112.00 to $120.00 in a research note on Monday, July 10th. StockNews.com began coverage on Raymond James in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Bank of America began coverage on Raymond James in a research report on Monday, September 11th. They set a “buy” rating and a $122.00 price target on the stock. Morgan Stanley dropped their price target on Raymond James from $112.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, July 31st. Finally, JPMorgan Chase & Co. began coverage on Raymond James in a research report on Tuesday. They set a “neutral” rating and a $121.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $118.33.
View Our Latest Stock Report on Raymond James
Insider Activity at Raymond James
In other Raymond James news, insider Horace Carter sold 3,753 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $109.12, for a total value of $409,527.36. Following the completion of the sale, the insider now owns 19,515 shares of the company’s stock, valued at $2,129,476.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.46% of the stock is owned by corporate insiders.
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.
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