Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,200 Shares of Raymond James Financial, Inc. $RJF

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 10.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,139 shares of the financial services provider’s stock after selling 3,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Raymond James Financial were worth $4,684,000 at the end of the most recent quarter.

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

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $172.11 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average price is $162.41 and its 200-day moving average price is $164.03. The firm has a market cap of $33.99 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.10 and a beta of 0.99. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.28. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.95 EPS. On average, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio is 20.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research note on Monday, December 22nd. Keefe, Bruyette & Woods lifted their target price on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. BMO Capital Markets upped their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $181.36.

Insider Buying and Selling

In other Raymond James Financial 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 completion of the sale, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by company 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.