California Public Employees Retirement System Has $48.79 Million Stock Holdings in Raymond James (NYSE:RJF)

California Public Employees Retirement System trimmed its holdings in Raymond James (NYSE:RJF) by 5.4% in the fourth quarter, Holdings Channel reports. The fund owned 314,127 shares of the financial services provider’s stock after selling 17,782 shares during the period. California Public Employees Retirement System’s holdings in Raymond James were worth $48,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. boosted its position in shares of Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after buying an additional 138 shares during the period. Raymond James Financial Inc. acquired a new position in Raymond James during the fourth quarter worth $105,701,000. Franklin Resources Inc. lifted its position in shares of Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after buying an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Raymond James during the 4th quarter worth approximately $511,000. Finally, Proficio Capital Partners LLC bought a new stake in Raymond James during the fourth quarter worth about $21,334,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Performance

RJF opened at $137.94 on Wednesday. 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 company’s fifty day moving average price is $153.80 and its two-hundred day moving average price is $150.96. The company has a market cap of $28.27 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.45%. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Analysts Set New Price Targets

Several analysts recently issued reports on RJF shares. Morgan Stanley increased their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Bank of America boosted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Citigroup increased their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.55.

Raymond James Company 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.