Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,800 Shares of Raymond James Financial, Inc. $RJF

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,339 shares of the financial services provider’s stock after selling 3,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Raymond James Financial were worth $3,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial in the 4th quarter valued at approximately $32,000. Anfield Capital Management LLC bought a new position in Raymond James Financial in the 3rd quarter valued at approximately $33,000. Harbor Investment Advisory LLC lifted its position in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares in the last quarter. Salomon & Ludwin LLC lifted its position in Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Raymond James Financial in the 4th quarter valued at approximately $44,000. 83.83% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Price Performance

Shares of RJF opened at $150.19 on Tuesday. The firm has a market cap of $29.27 billion, a PE ratio of 14.20, a P/E/G ratio of 1.16 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $150.32 and a two-hundred day simple moving average of $156.61. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. On average, equities analysts anticipate that Raymond James Financial, Inc. will post 11.82 EPS for the current year.

Raymond James Financial Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on RJF. BMO Capital Markets upped their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. UBS Group reiterated a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Jefferies Financial Group decreased their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, TD Cowen decreased their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and a consensus target price of $172.92.

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.