Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 19,100 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Fjarde AP Fonden increased its stake in Raymond James Financial by 81.8% in the first quarter, adding 19,100 shares to bring its total holdings to 42,439 shares valued at about $6.15 million.
• Raymond James Financial reported better-than-expected earnings of $2.83 per share for the quarter, though revenue of $3.86 billion came in slightly below analyst estimates.
• The company announced a quarterly dividend of $0.54 per share, and analysts currently rate the stock a consensus “Hold” with an average price target of $172.92.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 81.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,439 shares of the financial services provider's stock after purchasing an additional 19,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Raymond James Financial were worth $6,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its position in Raymond James Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock worth $573,000 after purchasing an additional 314 shares during the period. Woodline Partners LP boosted its position in shares of Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock valued at $2,164,000 after acquiring an additional 4,592 shares during the period. EverSource Wealth Advisors LLC grew its position in Raymond James Financial by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider's stock worth $182,000 after purchasing an additional 685 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Raymond James Financial by 15.1% during the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider's stock worth $348,000 after purchasing an additional 298 shares during the period. Finally, Cresset Asset Management LLC acquired a new position in shares of Raymond James Financial during the second quarter valued at about $363,000. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Down 0.1%

Shares of NYSE RJF opened at $162.57 on Monday. The stock has a market cap of $31.68 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.25 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a 50 day moving average price of $153.14 and a 200 day moving average price of $156.08. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating 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 business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the business posted $2.42 EPS. Raymond James Financial's revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Raymond James Financial, Inc. will post 11.82 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. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial's dividend payout ratio is currently 20.42%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RJF. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Jefferies Financial Group dropped their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research report on Monday, April 6th. TD Cowen reduced their target price on Raymond James Financial from $159.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 28th. UBS Group reissued a "neutral" rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Morgan Stanley upped their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $172.92.

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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