BI Asset Management Fondsmaeglerselskab A S Has $2.65 Million Holdings in Raymond James Financial, Inc. $RJF

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 38.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,342 shares of the financial services provider’s stock after buying an additional 4,238 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Raymond James Financial were worth $2,648,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Primecap Management Co. CA boosted its stake in Raymond James Financial by 3.0% in the 2nd quarter. Primecap Management Co. CA now owns 10,013,852 shares of the financial services provider’s stock worth $1,535,824,000 after purchasing an additional 295,163 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Raymond James Financial by 41.6% in the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after purchasing an additional 1,651,380 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Raymond James Financial by 39.9% in the second quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock worth $381,212,000 after buying an additional 709,315 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Raymond James Financial by 3.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,406,749 shares of the financial services provider’s stock valued at $369,123,000 after buying an additional 71,495 shares in the last quarter. Finally, Norges Bank acquired a new position in Raymond James Financial during the second quarter valued at $354,446,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RJF. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Bank of America increased their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. BMO Capital Markets boosted their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, JMP Securities upped their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $182.17.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This trade represents a 33.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.58% of the stock is owned by insiders.

Raymond James Financial Stock Up 2.9%

RJF stock opened at $172.34 on Friday. The firm has a market cap of $34.03 billion, a PE ratio of 16.86, a PEG ratio of 1.28 and a beta of 1.00. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The company has a fifty day simple moving average of $165.90 and a 200 day simple moving average of $165.06. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.74%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.54 dividend. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio is presently 21.14%.

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.