141,545 Shares in Raymond James Financial, Inc. $RJF Bought by Danske Bank A S

Key Points

• Danske Bank A/S bought 141,545 shares of Raymond James Financial in the second quarter, valued at approximately $21.5 million. Institutional investors collectively own 83.83% of the company.
• Raymond James reported quarterly earnings of $3.14 per share, exceeding the $2.91 consensus estimate, while revenue rose 15.6% year over year to $3.93 billion.
• Analyst sentiment remains mixed, with five Buy and eight Hold ratings; the stock has a consensus rating of Hold and an average price target of $181.

Danske Bank A S purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 141,545 shares of the financial services provider's stock, valued at approximately $21,519,000. Danske Bank A S owned 0.07% of Raymond James Financial as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC purchased a new position in shares of Raymond James Financial in the second quarter worth about $388,000. Wealthfront Advisers LLC purchased a new stake in Raymond James Financial in the second quarter valued at approximately $3,867,000. Alpine Woods Capital Investors LLC purchased a new stake in Raymond James Financial in the second quarter valued at approximately $1,203,000. Meeder Advisory Services Inc. acquired a new position in Raymond James Financial in the 2nd quarter worth approximately $329,000. Finally, Meeder Asset Management Inc. acquired a new position in Raymond James Financial in the 2nd quarter worth approximately $274,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $172.21 on Friday. The firm has a market cap of $33.13 billion, a PE ratio of 15.01, a PEG ratio of 1.09 and a beta of 0.92. The firm has a fifty day moving average of $167.82 and a 200 day moving average of $157.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The company had revenue of $3.93 billion during the quarter, compared to analysts' expectations of $3.87 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. As a group, research analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on RJF shares. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the company a "neutral" rating in a research note on Monday, July 27th. Argus increased their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Citizens Jmp raised their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a "market outperform" rating in a report on Thursday, July 23rd. Morgan Stanley boosted their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a research report on Friday, July 10th. Finally, Barclays upped their price target on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial presently has a consensus rating of "Hold" and an average target price of $181.00.

Insider Activity

In related news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the sale, the insider owned 45,114 shares of the company's stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is owned by corporate insiders.

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.

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