Arbejdsmarkedets Tillaegspension Acquires 33,267 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Arbejdsmarkedets Tillaegspension increased its stake in Raymond James Financial by 23.6% in the first quarter, buying 33,267 more shares and bringing its total holdings to 174,290 shares worth about $25.2 million.
• Raymond James Financial recently reported strong quarterly earnings, posting EPS of $2.83 versus the $2.76 estimate, with revenue up 13.4% year over year. The company also announced a quarterly dividend of $0.54 per share, or $2.16 annualized, for a 1.3% yield.
• Analyst sentiment has improved, with several firms raising price targets after earnings, including Citizens JMP to $200 and Barclays to $192. Still, the stock currently carries an average Hold rating and an average price target of $176.64.

Arbejdsmarkedets Tillaegspension grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 23.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,290 shares of the financial services provider's stock after buying an additional 33,267 shares during the quarter. Arbejdsmarkedets Tillaegspension owned 0.09% of Raymond James Financial worth $25,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Reflection Asset Management bought a new position in Raymond James Financial during the fourth quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial during the 4th quarter worth about $32,000. Harbor Investment Advisory LLC grew its holdings in Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 172 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial during the 4th quarter valued at about $35,000. Finally, Steigerwald Gordon & Koch Inc. raised its position in Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider's stock worth $37,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

More Raymond James Financial News

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Several analysts turned more constructive on Raymond James Financial after earnings, including Citizens JMP raising its price target to $200 and Barclays lifting its target to $192 with an overweight rating, signaling expectations for further upside. Raymond James Financial NYSE: RJF Given New $200.00 Price Target at Citizens Jmp
• Positive Sentiment: Morgan Stanley also raised its target to $174, and a separate article suggested RJF could be about 3% undervalued after posting strong quarterly results, reinforcing the case that recent fundamentals may be better than the market is pricing in. Raymond James Financial (RJF) Could Be 3% Undervalued After Strong Quarterly Results
• Neutral Sentiment: UBS kept a hold rating on Raymond James Financial, indicating some analysts still see limited near-term upside despite the recent positive momentum. UBS Sticks to Their Hold Rating for Raymond James Financial (RJF)

Raymond James Financial Price Performance

Shares of RJF stock opened at $168.15 on Monday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The stock has a fifty day simple moving average of $154.40 and a two-hundred day simple moving average of $156.25. The stock has a market capitalization of $32.77 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.07 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $2.42 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts predict 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 will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 20.42%.

Analysts Set New Price Targets

RJF has been the subject of several recent analyst reports. Citizens Jmp boosted their target price on Raymond James Financial from $190.00 to $200.00 and gave the company a "market outperform" rating in a research report on Thursday. UBS Group reissued a "neutral" rating and set a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a report on Thursday. BMO Capital Markets upped their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Raymond James Financial currently has an average rating of "Hold" and an average price target of $176.64.

About Raymond James Financial

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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