Allianz Asset Management GmbH Grows Position in Raymond James Financial, Inc. $RJF

Allianz Asset Management GmbH grew its stake in Raymond James Financial, Inc. (NYSE:RJF) by 24.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,067 shares of the financial services provider’s stock after buying an additional 11,680 shares during the quarter. Allianz Asset Management GmbH’s holdings in Raymond James Financial were worth $10,195,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Raymond James Financial during the 2nd quarter valued at approximately $354,446,000. JPMorgan Chase & Co. raised its stake 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 worth $861,479,000 after acquiring an additional 1,651,380 shares during the period. First Trust Advisors LP lifted its holdings in Raymond James Financial by 39.9% during the second quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock valued at $381,212,000 after purchasing an additional 709,315 shares in the last quarter. American Century Companies Inc. lifted its holdings in Raymond James Financial by 179.8% during the second quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock valued at $105,581,000 after purchasing an additional 442,340 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Raymond James Financial by 824.7% in the second quarter. Marshall Wace LLP now owns 438,213 shares of the financial services provider’s stock worth $67,209,000 after purchasing an additional 390,821 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $172.34 on Monday. The firm has a fifty day simple moving average of $165.90 and a two-hundred day simple moving average of $165.09. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $34.03 billion, a P/E ratio of 16.86, a PEG ratio of 1.28 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS 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 17.74%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the firm earned $2.93 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, 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 business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were issued a $0.54 dividend. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Insider Buying and Selling at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the 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 sale, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent analyst reports. Barclays assumed 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 objective on the stock. JPMorgan Chase & Co. raised their price target on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Bank of America increased their target price on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Finally, BMO Capital Markets upped their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Four 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 a consensus rating of “Hold” and an average price target of $182.17.

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.