APG Asset Management N.V. Sells 15,651 Shares of Raymond James Financial, Inc. $RJF

Key Points

• APG Asset Management N.V. reduced its stake in Raymond James Financial by 7.4%, now holding approximately 0.10% of the company, valued at $25,041,000.
• Multiple institutional investors, including Vanguard Group Inc. and Invesco Ltd., increased their positions in Raymond James Financial during the first quarter.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, reflecting an annualized dividend of $2.00 and a yield of 1.2%.

APG Asset Management N.V. lowered its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,729 shares of the financial services provider's stock after selling 15,651 shares during the period. APG Asset Management N.V. owned approximately 0.10% of Raymond James Financial worth $25,041,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. D.A. Davidson & CO. grew its position in Raymond James Financial by 3.6% in the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider's stock valued at $778,000 after buying an additional 197 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 123 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at $9,366,000. Assenagon Asset Management S.A. raised its position in Raymond James Financial by 13.8% in the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider's stock worth $3,470,000 after acquiring an additional 3,035 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Raymond James Financial by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider's stock worth $65,058,000 after purchasing an additional 3,691 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Financial Stock Performance

RJF stock traded up $0.79 during midday trading on Thursday, hitting $168.74. 661,523 shares of the company traded hands, compared to its average volume of 1,295,614. Raymond James Financial, Inc. has a twelve month low of $113.91 and a twelve month high of $174.32. The business has a 50 day simple moving average of $161.03 and a 200-day simple moving average of $150.08. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $33.64 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.39 earnings per share. As a group, equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial's dividend payout ratio is currently 19.61%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RJF. JMP Securities raised their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley upped their target price on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial Profile

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.