Raymond James Financial, Inc. $RJF Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in Raymond James Financial, Inc. (NYSE:RJF) by 29.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,678 shares of the financial services provider’s stock after acquiring an additional 15,895 shares during the quarter. Handelsbanken Fonder AB’s holdings in Raymond James Financial were worth $11,350,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Anfield Capital Management LLC bought a new stake in shares of Raymond James Financial in the 3rd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $32,000. Harbor Investment Advisory LLC lifted its holdings in shares of 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 worth $34,000 after purchasing an additional 172 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Raymond James Financial in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Down 1.3%

Shares of Raymond James Financial stock opened at $150.17 on Friday. The business’s fifty day moving average price is $149.50 and its two-hundred day moving average price is $157.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The company has a market capitalization of $29.26 billion, a P/E ratio of 14.19, a PEG ratio of 1.17 and a beta of 0.99. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for 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%.The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 EPS. As a group, research analysts forecast that Raymond James Financial, Inc. will post 11.83 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.

Wall Street Analyst Weigh In

RJF has been the topic of several recent research reports. UBS Group reissued a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. TD Cowen reissued a “hold” rating and issued a $159.00 price target (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets raised their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Jefferies Financial Group cut their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Finally, Morgan Stanley raised their price target on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and a consensus price target of $173.25.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

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.