Raymond James Financial, Inc. $RJF Holdings Boosted by Swedbank AB

Swedbank AB boosted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 31.1% during the 4th quarter, HoldingsChannel reports. The firm owned 41,436 shares of the financial services provider’s stock after buying an additional 9,838 shares during the quarter. Swedbank AB’s holdings in Raymond James Financial were worth $6,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. grew its position in Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 61 shares in the last quarter. Meridian Wealth Advisors LLC grew its position in Raymond James Financial by 0.6% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after purchasing an additional 62 shares in the last quarter. Salomon & Ludwin LLC grew its position in Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Raymond James Financial by 2.5% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 68 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its position in Raymond James Financial by 1.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 68 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Trading Up 0.5%

Shares of NYSE:RJF opened at $154.24 on Friday. The firm has a fifty day moving average of $149.76 and a two-hundred day moving average of $158.26. The firm has a market capitalization of $30.06 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month 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.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (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 analyst estimates of $3.92 billion. During the same quarter in the previous year, the business earned $2.42 EPS. Raymond James Financial’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts expect that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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. BMO Capital Markets lifted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. TD Cowen reissued a “hold” rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and an average target price of $173.25.

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.