Handelsbanken Fonder AB Sells 5,320 Shares of Raymond James Financial, Inc. $RJF

Handelsbanken Fonder AB lowered its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 7.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,919 shares of the financial services provider’s stock after selling 5,320 shares during the period. Handelsbanken Fonder AB’s holdings in Raymond James Financial were worth $9,718,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after buying an additional 474,477 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Raymond James Financial by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after buying an additional 21,856 shares during the last quarter. Bank of America Corp DE grew its holdings in Raymond James Financial by 9.9% during the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after acquiring an additional 220,227 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock valued at $347,390,000 after acquiring an additional 41,413 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Raymond James Financial by 12.2% during the fourth quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after purchasing an additional 254,773 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Morgan Stanley upped their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. UBS Group set a $184.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $181.00.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Price Performance

RJF stock opened at $180.88 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.11 and a beta of 0.92. The company’s fifty day simple moving average is $165.11 and its 200 day simple moving average is $157.36. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $2.18 EPS. On average, analysts expect that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Raymond James Financial Profile

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.