Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 19,100 Shares of Raymond James Financial, Inc. $RJF

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Raymond James Financial, Inc. (NYSE:RJF) by 81.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,439 shares of the financial services provider’s stock after acquiring an additional 19,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Raymond James Financial were worth $6,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RJF. First Trust Advisors LP increased its holdings in shares of Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after purchasing an additional 474,477 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Raymond James Financial by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after purchasing an additional 21,856 shares in the last quarter. Invesco Ltd. grew its stake in Raymond James Financial by 12.2% during the fourth quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after buying an additional 254,773 shares in the last quarter. Norges Bank acquired a new position in shares of Raymond James Financial in the 4th quarter valued at approximately $324,263,000. Finally, Bank of New York Mellon Corp raised its position in Raymond James Financial by 22.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock valued at $192,987,000 after purchasing an additional 216,907 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Trading Down 0.1%

NYSE:RJF opened at $162.57 on Monday. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66. 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’s 50 day moving average is $153.14 and its 200 day moving average is $156.08. The stock has a market capitalization of $31.68 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s payout ratio is 20.42%.

Wall Street Analyst Weigh In

RJF has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. UBS Group restated a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley boosted 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 report on Tuesday, April 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Barclays restated an “overweight” rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average price target 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.