Illinois Municipal Retirement Fund Sells 4,670 Shares of Raymond James (NYSE:RJF)

Illinois Municipal Retirement Fund lessened its stake in shares of Raymond James (NYSE:RJF) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,959 shares of the financial services provider’s stock after selling 4,670 shares during the period. Illinois Municipal Retirement Fund’s holdings in Raymond James were worth $14,595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of Raymond James by 44,291.7% in the 3rd quarter. International Assets Investment Management LLC now owns 10,654 shares of the financial services provider’s stock valued at $1,305,000 after purchasing an additional 10,630 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Raymond James by 468.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 27,576 shares of the financial services provider’s stock worth $3,377,000 after acquiring an additional 22,728 shares in the last quarter. Ballentine Partners LLC increased its holdings in Raymond James by 21.4% during the 3rd quarter. Ballentine Partners LLC now owns 2,156 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 380 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Raymond James by 25.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,154 shares of the financial services provider’s stock worth $1,978,000 after acquiring an additional 3,282 shares during the period. Finally, Forsta AP Fonden lifted its position in shares of Raymond James by 17.0% in the 3rd quarter. Forsta AP Fonden now owns 35,800 shares of the financial services provider’s stock worth $4,384,000 after purchasing an additional 5,200 shares during the period. 83.83% of the stock is owned by institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. Finally, UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $166.09.

Raymond James Stock Performance

Raymond James stock opened at $151.61 on Tuesday. The firm has a market capitalization of $31.07 billion, a P/E ratio of 14.79, a PEG ratio of 0.90 and a beta of 1.03. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $161.13 and a 200 day moving average price of $145.88. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities research analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James’s payout ratio is currently 19.51%.

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.