Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Raymond James Financial, Inc. $RJF

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Raymond James Financial in the fourth quarter, buying 69,794 shares valued at about $11.2 million.
• Institutional interest in RJF remains strong, with several large investors adding stakes and 83.83% of the stock now held by institutional investors.
• Raymond James reported Q4 EPS of $2.83, beating estimates, and also announced a quarterly dividend of $0.54 per share, or $2.16 annualized, for a 1.4% yield.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 69,794 shares of the financial services provider's stock, valued at approximately $11,208,000.

Several other large investors have also recently added to or reduced their stakes in the company. Munich Reinsurance Co Stock Corp in Munich bought a new stake in Raymond James Financial in the third quarter valued at $69,861,000. PFA Pension Forsikringsaktieselskab bought a new stake in Raymond James Financial in the fourth quarter valued at $64,640,000. Balyasny Asset Management L.P. increased its holdings in shares of Raymond James Financial by 7,823.8% during the third quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider's stock valued at $49,809,000 after purchasing an additional 284,941 shares during the period. AQR Capital Management LLC increased its holdings in shares of Raymond James Financial by 44.9% during the third quarter. AQR Capital Management LLC now owns 783,144 shares of the financial services provider's stock valued at $135,171,000 after purchasing an additional 242,552 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Raymond James Financial by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider's stock valued at $1,009,342,000 after purchasing an additional 230,871 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of research analyst reports. Barclays reissued an "overweight" rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley raised their price target on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. UBS Group reissued a "neutral" rating and set a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Weiss Ratings raised Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Finally, BMO Capital Markets lifted their target price on 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 equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $173.25.

Raymond James Financial Price Performance

NYSE RJF opened at $151.16 on Wednesday. The stock's 50-day moving average price is $149.45 and its two-hundred day moving average price is $157.73. 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 company has a market cap of $29.46 billion, a PE ratio of 14.29, a PEG ratio of 1.18 and a beta of 0.99. 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 posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current year.

Raymond James Financial Announces Dividend

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

Raymond James Financial 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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