Swedbank AB Increases Stock Position in Raymond James Financial, Inc. $RJF

Swedbank AB increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 31.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,436 shares of the financial services provider’s stock after purchasing an additional 9,838 shares during the quarter. Swedbank AB’s holdings in Raymond James Financial were worth $6,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RJF. Empowered Funds LLC boosted its stake in shares of Raymond James Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares during the period. Woodline Partners LP boosted its stake in shares of Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 4,592 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 685 shares during the period. Brown Advisory Inc. boosted its stake in shares of Raymond James Financial by 15.1% in the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 298 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in shares of Raymond James Financial in the second quarter valued at $363,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Trading Up 0.6%

NYSE RJF opened at $152.36 on Wednesday. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. 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 $29.69 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99. The company’s fifty day moving average price is $149.83 and its two-hundred day moving average price is $157.48.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm posted $2.42 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed 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. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is 20.42%.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RJF has been the subject of several analyst reports. Barclays restated an “overweight” rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Morgan Stanley upped their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. TD Cowen reiterated a “hold” rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, BMO Capital Markets increased their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average target price of $173.25.

Raymond James Financial Company 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.