Arbejdsmarkedets Tillaegspension Invests $22.65 Million in Raymond James Financial, Inc. $RJF

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new fourth-quarter stake in Raymond James Financial, buying 141,023 shares valued at about $22.65 million.
• Raymond James reported Q2 EPS of $2.83, beating estimates, while revenue of $3.86 billion came in slightly below expectations but still rose 13.4% year over year.
• The company declared a quarterly dividend of $0.54 per share and Wall Street currently has a Hold consensus rating on the stock, with an average price target of $173.25.

Arbejdsmarkedets Tillaegspension bought a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 141,023 shares of the financial services provider's stock, valued at approximately $22,647,000. Arbejdsmarkedets Tillaegspension owned 0.07% of Raymond James Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quent Capital LLC bought a new stake in Raymond James Financial in the third quarter valued at approximately $33,000. Anfield Capital Management LLC acquired a new stake in shares of Raymond James Financial during the 3rd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the 4th quarter worth about $32,000. Harbor Investment Advisory LLC increased its holdings in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock valued at $34,000 after buying an additional 172 shares during the period. Finally, Salomon & Ludwin LLC increased its holdings in Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after buying an additional 65 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Price Performance

Shares of RJF stock opened at $154.28 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The firm has a market capitalization of $30.07 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.19 and a beta of 0.99. The stock's 50-day simple moving average is $149.50 and its 200-day simple moving average is $157.84.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 earnings per share. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is 20.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a report on Monday, April 6th. TD Cowen reiterated a "hold" rating and issued a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. UBS Group reaffirmed a "neutral" rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Barclays reiterated an "overweight" rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, BMO Capital Markets boosted their price objective on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $173.25.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is currently owned by company 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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