Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 6,200 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund sold 6,200 shares of Raymond James Financial, reducing its stake by 19.2% and leaving it with 26,139 shares valued at approximately $3.63 million.
• Raymond James Financial reported a Q2 earnings per share of $2.18, falling short of the $2.36 consensus estimate, although revenue increased by 5.3% year-over-year.
• The company disclosed a quarterly dividend of $0.50 per share, representing an annualized yield of 1.2% and a payout ratio of 19.61%.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 19.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,139 shares of the financial services provider's stock after selling 6,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Raymond James Financial were worth $3,631,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial during the 1st quarter valued at $25,000. Alpine Bank Wealth Management bought a new position in Raymond James Financial during the 1st quarter valued at $27,000. Golden State Wealth Management LLC lifted its stake in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC bought a new position in Raymond James Financial during the 1st quarter valued at $33,000. Finally, TCTC Holdings LLC lifted its stake in Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 121 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Trading Down 0.8%

Shares of RJF opened at $163.30 on Friday. The business has a 50-day moving average of $158.22 and a 200 day moving average of $150.08. Raymond James Financial, Inc. has a fifty-two week low of $113.91 and a fifty-two week high of $174.32. The firm has a market cap of $32.56 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same period last year, the business posted $2.39 EPS. The company's revenue was up 5.3% compared to the same quarter last year. As a group, research analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is 19.61%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RJF. Cowen restated a "hold" rating on shares of Raymond James Financial in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JMP Securities lifted their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $163.80.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value 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 trade represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

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.

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