BI Asset Management Fondsmaeglerselskab A S Acquires 35,604 Shares of Raymond James Financial, Inc. $RJF

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Raymond James Financial by 423.3%, acquiring an additional 35,604 shares, bringing its total holdings to 44,016 shares valued at approximately $6.11 million.
• Several analysts raised their price targets for Raymond James Financial, with Morgan Stanley boosting its objective from $136 to $180, reflecting positive sentiment around the stock's performance.
• In the latest quarterly earnings, Raymond James reported $2.18 EPS, missing estimates of $2.36 by $0.18, while generating $3.40 billion in revenue, exceeding the anticipated $3.38 billion.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 423.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,016 shares of the financial services provider's stock after acquiring an additional 35,604 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Raymond James Financial were worth $6,114,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Formidable Asset Management LLC grew its stake in shares of Raymond James Financial by 0.9% during the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock valued at $1,227,000 after purchasing an additional 67 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Raymond James Financial by 2.2% during the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock worth $461,000 after buying an additional 73 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Raymond James Financial by 9.0% in the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock valued at $137,000 after buying an additional 82 shares during the last quarter. Dynasty Wealth Management LLC boosted its position in Raymond James Financial by 4.9% in the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock valued at $280,000 after buying an additional 94 shares during the last quarter. Finally, Brighton Jones LLC increased its stake in shares of Raymond James Financial by 3.6% in the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock valued at $398,000 after buying an additional 100 shares during the period. 83.83% of the stock is owned by institutional investors.

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 on 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 owned 74,586 shares of the company's stock, 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 corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RJF. Keefe, Bruyette & Woods upped their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price objective on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. JMP Securities raised their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Finally, Bank of America lowered shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a report on Wednesday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $163.80.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $162.7110 on Thursday. The firm's 50 day simple moving average is $159.21 and its 200 day simple moving average is $150.10. Raymond James Financial, Inc. has a fifty-two week low of $113.91 and a fifty-two week high of $174.32. The company has a market capitalization of $32.44 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.35 and a beta of 1.05. 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 issued its quarterly earnings data 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 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 quarter in the prior year, the firm posted $2.39 EPS. As a group, sell-side analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.