Munich Reinsurance Co Stock Corp in Munich Buys 73,866 Shares of Raymond James Financial, Inc. $RJF

Munich Reinsurance Co Stock Corp in Munich grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 478,389 shares of the financial services provider’s stock after acquiring an additional 73,866 shares during the period. Raymond James Financial accounts for 1.7% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 21st largest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Raymond James Financial were worth $69,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Reflection Asset Management bought a new position in shares of Raymond James Financial during the fourth quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial in the 4th quarter valued at $32,000. Harbor Investment Advisory LLC grew its holdings in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial during the 4th quarter worth $35,000. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after buying an additional 228 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $165.21 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The firm has a market cap of $32.20 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.93. The firm’s fifty day moving average is $153.89 and its 200-day moving average is $156.19.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 earnings per share. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.76 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is 20.42%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday. Jefferies Financial Group lowered their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Morgan Stanley upped their price objective on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Finally, TD Cowen decreased their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average target price of $173.67.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.