Allianz Asset Management GmbH Increases Stock Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Allianz Asset Management GmbH increased its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 231.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,782 shares of the financial services provider's stock after purchasing an additional 102,431 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of Raymond James Financial worth $20,389,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Norges Bank purchased a new stake in Raymond James Financial in the fourth quarter valued at approximately $294,647,000. Victory Capital Management Inc. grew its holdings in Raymond James Financial by 1,502.0% during the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock worth $261,587,000 after acquiring an additional 1,765,588 shares during the period. GAMMA Investing LLC grew its holdings in Raymond James Financial by 25,259.8% in the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock valued at $93,740,000 after purchasing an additional 672,164 shares during the last quarter. Select Equity Group L.P. acquired a new stake in Raymond James Financial in the fourth quarter valued at $81,611,000. Finally, Northern Trust Corp grew its holdings in Raymond James Financial by 18.4% in the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after purchasing an additional 327,739 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday. The Goldman Sachs Group decreased their price objective on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Finally, Wells Fargo & Company raised their price target on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Trading Down 0.2%

Shares of Raymond James Financial stock traded down $0.33 during trading hours on Monday, reaching $168.21. The stock had a trading volume of 120,749 shares, compared to its average volume of 1,359,179. The firm has a 50 day simple moving average of $152.63 and a two-hundred day simple moving average of $149.98. The firm has a market capitalization of $33.94 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.40 and a beta of 1.02. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. Raymond James Financial had a return on equity of 18.50% and a net margin of 13.56%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.39 earnings per share. As a group, equities research analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Raymond James Financial's dividend payout ratio (DPR) is 19.61%.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by company insiders.

About Raymond James Financial

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.