ASR Vermogensbeheer N.V. Takes $414,000 Position in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• ASR Vermogensbeheer N.V. has made a new investment of approximately $414,000 in Raymond James Financial, purchasing 2,984 shares during the first quarter.
• Several institutional investors, including Victory Capital Management and GAMMA Investing LLC, significantly increased their stakes in Raymond James, with some raising their holdings by over 25,000%.
• Wall Street analysts have varied target price adjustments for Raymond James Financial, with average ratings leaning towards a “Hold” and a consensus target price of $163.80.

ASR Vermogensbeheer N.V. purchased a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,984 shares of the financial services provider's stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Cerity Partners LLC raised its holdings in Raymond James Financial by 10.1% in the 4th quarter. Cerity Partners LLC now owns 19,299 shares of the financial services provider's stock valued at $2,822,000 after acquiring an additional 1,765 shares during the last quarter. Bank of Nova Scotia boosted its position in Raymond James Financial by 2.4% in the 4th quarter. Bank of Nova Scotia now owns 24,862 shares of the financial services provider's stock valued at $3,862,000 after buying an additional 588 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Raymond James Financial in the 4th quarter valued at $220,000. Bessemer Group Inc. raised its stake in Raymond James Financial by 0.8% during the 4th quarter. Bessemer Group Inc. now owns 20,168 shares of the financial services provider's stock worth $3,132,000 after acquiring an additional 151 shares in the last quarter. Finally, Covestor Ltd raised its stake in Raymond James Financial by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after acquiring an additional 122 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Raymond James Financial Stock Performance

RJF stock traded up $3.53 during midday trading on Tuesday, reaching $168.45. 649,525 shares of the company were exchanged, compared to its average volume of 1,080,110. The business has a 50-day moving average price of $157.10 and a two-hundred day moving average price of $150.23. The firm has a market capitalization of $33.58 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05. Raymond James Financial, Inc. has a one year low of $110.06 and a one year high of $174.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $3.40 billion during the quarter, compared to analyst estimates 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 for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $2.39 EPS. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's dividend payout ratio is currently 19.61%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RJF shares. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Morgan Stanley boosted their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Raymond James Financial has a consensus rating of "Hold" and an average target price of $163.80.

Raymond James Financial Company 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.