404,755 Shares in Raymond James Financial, Inc. $RJF Purchased by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 404,755 shares of the financial services provider’s stock, valued at approximately $69,861,000. Raymond James Financial comprises approximately 1.8% of Munich Reinsurance Co Stock Corp in Munich’s investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Angeles Wealth Management LLC bought a new stake in Raymond James Financial during the 3rd quarter worth approximately $225,000. Blair William & Co. IL grew its holdings in Raymond James Financial by 26.2% during the third quarter. Blair William & Co. IL now owns 2,238 shares of the financial services provider’s stock worth $386,000 after buying an additional 465 shares in the last quarter. First Trust Advisors LP raised its position in Raymond James Financial by 4.5% in the 3rd quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider’s stock valued at $448,332,000 after buying an additional 111,950 shares during the last quarter. Intellus Advisors LLC lifted its stake in Raymond James Financial by 71.1% during the 3rd quarter. Intellus Advisors LLC now owns 11,801 shares of the financial services provider’s stock valued at $2,037,000 after acquiring an additional 4,902 shares in the last quarter. Finally, Advisory Alpha LLC purchased a new position in Raymond James Financial during the 3rd quarter worth $231,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays started coverage on shares of Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target on the stock. Bank of America lifted 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. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Finally, UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $182.17.

Insider Activity

In other news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $42,508,079.90. This represents a 33.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $152.11 on Friday. The firm has a market cap of $29.98 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The firm’s 50-day simple moving average is $163.81 and its two-hundred day simple moving average is $163.94.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the firm earned $2.93 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 21.14%.

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.