Allianz Asset Management GmbH Boosts Position in Raymond James Financial, Inc. (RJF)
Allianz Asset Management GmbH increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 136,313 shares of the financial services provider’s stock after buying an additional 14,561 shares during the quarter. Allianz Asset Management GmbH owned about 0.09% of Raymond James Financial worth $11,495,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Raymond James Financial by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock worth $1,034,139,000 after buying an additional 319,457 shares during the period. Boston Partners raised its stake in Raymond James Financial by 0.6% during the 3rd quarter. Boston Partners now owns 5,312,709 shares of the financial services provider’s stock worth $448,021,000 after buying an additional 30,481 shares during the period. Wells Fargo & Company MN increased its holdings in Raymond James Financial by 3.4% during the 3rd quarter. Wells Fargo & Company MN now owns 3,308,312 shares of the financial services provider’s stock worth $278,990,000 after purchasing an additional 109,555 shares in the last quarter. Northern Trust Corp increased its holdings in Raymond James Financial by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,461,795 shares of the financial services provider’s stock worth $117,266,000 after purchasing an additional 10,794 shares in the last quarter. Finally, BT Investment Management Ltd increased its holdings in Raymond James Financial by 0.7% during the 3rd quarter. BT Investment Management Ltd now owns 1,240,326 shares of the financial services provider’s stock worth $104,597,000 after purchasing an additional 9,053 shares in the last quarter. 69.86% of the stock is currently owned by institutional investors and hedge funds.
RJF has been the subject of a number of recent research reports. Zacks Investment Research raised Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Wednesday, August 30th. Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $86.00 to $90.00 in a report on Thursday, September 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a report on Tuesday, October 3rd. Credit Suisse Group initiated coverage on Raymond James Financial in a report on Thursday, November 30th. They set an “underperform” rating and a $82.00 price objective for the company. Finally, Buckingham Research boosted their price objective on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $88.57.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.15. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 EPS. analysts expect that Raymond James Financial, Inc. will post 5.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Raymond James Financial’s dividend payout ratio is currently 20.32%.
In other news, SVP Jennifer C. Ackart sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $89.23, for a total value of $267,690.00. Following the completion of the transaction, the senior vice president now directly owns 12,409 shares of the company’s stock, valued at $1,107,255.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total value of $3,847,950.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,017 shares of company stock valued at $26,295,553. 11.18% of the stock is currently owned by corporate insiders.
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About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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