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

A number of other hedge funds have also recently modified their holdings of RJF. JPMorgan Chase & Co. boosted its holdings in Raymond James Financial by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock worth $1,009,342,000 after buying an additional 230,871 shares during the period. First Trust Advisors LP boosted its holdings in Raymond James Financial by 4.5% in the 3rd quarter. First Trust Advisors LP now owns 2,597,519 shares of the financial services provider’s stock worth $448,332,000 after buying an additional 111,950 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Raymond James Financial by 10.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider’s stock worth $406,941,000 after buying an additional 227,337 shares during the period. Norges Bank bought a new position in Raymond James Financial in the 4th quarter worth $324,263,000. Finally, Bank of New York Mellon Corp boosted its holdings in Raymond James Financial by 22.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock worth $192,987,000 after buying an additional 216,907 shares during the period. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction dated 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 transaction, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RJF shares. BMO Capital Markets upped their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Barclays reaffirmed 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. UBS Group reaffirmed 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. Jefferies Financial Group dropped 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 report on Monday, April 6th. Finally, TD Cowen dropped 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 report on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $172.92.

Raymond James Financial Stock Down 0.8%

RJF opened at $150.19 on Tuesday. The firm has a 50-day simple moving average of $150.32 and a two-hundred day simple moving average of $156.61. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $177.66. The company has a market capitalization of $29.27 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Analysts forecast that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

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 issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is 20.42%.

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.