BNP Paribas Financial Markets Has $70.29 Million Holdings in Raymond James Financial, Inc. $RJF

Key Points

• BNP Paribas Financial Markets increased its stake in Raymond James Financial by 7.2% in the fourth quarter, ending with 437,675 shares valued at about $70.3 million.
• Raymond James Financial reported Q4 EPS of $2.83, topping analyst estimates, while revenue came in at $3.86 billion versus expectations of $3.92 billion. Revenue still rose 13.4% year over year.
• The company declared a quarterly dividend of $0.54 per share, payable July 15, and analysts currently have a consensus rating of Hold with an average price target of $172.92.

BNP Paribas Financial Markets lifted its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 437,675 shares of the financial services provider's stock after buying an additional 29,571 shares during the period. BNP Paribas Financial Markets owned about 0.22% of Raymond James Financial worth $70,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Thrivent Financial for Lutherans boosted its position in Raymond James Financial by 30.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider's stock valued at $10,390,000 after buying an additional 14,233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Raymond James Financial by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider's stock valued at $5,402,000 after buying an additional 6,953 shares during the period. Plato Investment Management Ltd increased its stake in shares of Raymond James Financial by 2,000.9% in the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider's stock valued at $781,000 after buying an additional 4,342 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Raymond James Financial by 24.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider's stock valued at $10,195,000 after buying an additional 11,680 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Raymond James Financial in the 3rd quarter valued at $1,487,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

RJF stock opened at $146.10 on Tuesday. The business's 50-day moving average price is $149.89 and its two-hundred day moving average price is $156.97. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market cap of $28.47 billion, a PE ratio of 13.81, a P/E/G ratio of 1.10 and a beta of 0.94. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66.

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, beating analysts' consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.42 earnings per share. As a group, research analysts forecast that Raymond James Financial, Inc. will post 11.84 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial's payout ratio is 20.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RJF shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Morgan Stanley lifted their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Jefferies Financial Group lowered their target price on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Barclays reissued an "overweight" rating and issued a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, UBS Group restated a "neutral" rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $172.92.

Insider Activity at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider owned 53,586 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by company insiders.

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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