Achmea Investment Management B.V. lowered its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 53.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,301 shares of the financial services provider's stock after selling 8,256 shares during the period. Achmea Investment Management B.V.'s holdings in Raymond James Financial were worth $1,014,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Raymond James Financial in the 4th quarter worth $294,647,000. Raymond James Financial Inc. acquired a new stake in shares of Raymond James Financial in the 4th quarter worth $105,701,000. GAMMA Investing LLC increased its stake in shares of Raymond James Financial by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after acquiring an additional 672,164 shares during the last quarter. Select Equity Group L.P. acquired a new stake in shares of Raymond James Financial in the 4th quarter worth $81,611,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Raymond James Financial by 433.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock worth $88,144,000 after acquiring an additional 461,069 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.
Raymond James Financial Trading Up 0.4%
Shares of NYSE:RJF traded up $0.63 during midday trading on Friday, reaching $153.24. 1,843,937 shares of the company's stock were exchanged, compared to its average volume of 1,326,258. The stock has a market cap of $30.92 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The firm's 50 day simple moving average is $145.87 and its two-hundred day simple moving average is $149.72. Raymond James Financial, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.
Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business's revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. As a group, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.
Raymond James Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial's dividend payout ratio is currently 19.25%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on RJF. Bank of America downgraded Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. Citigroup cut their target price on Raymond James Financial from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley raised their target price on Raymond James Financial from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group cut their target price on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $175.00 target price on shares of Raymond James Financial in a research note on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and a consensus price target of $153.82.
Read Our Latest Research Report on RJF
Insider Buying and Selling at Raymond James Financial
In other news, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider now owns 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.
Raymond James Financial Company Profile
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Free Report)
Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.
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