Handelsbanken Fonder AB Has $9.19 Million Stock Position in Raymond James (NYSE:RJF)

Handelsbanken Fonder AB reduced its stake in shares of Raymond James (NYSE:RJF - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,134 shares of the financial services provider's stock after selling 3,627 shares during the quarter. Handelsbanken Fonder AB's holdings in Raymond James were worth $9,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James in the first quarter worth $25,000. TCTC Holdings LLC grew its stake in shares of Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Plato Investment Management Ltd grew its stake in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd grew its stake in shares of Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after purchasing an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new position in shares of Raymond James in the fourth quarter worth $53,000. Institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RJF shares. Bank of America cut Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. Citigroup decreased their target price on Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley raised their target price on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. decreased their target price on Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group decreased their target price on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Raymond James has an average rating of "Hold" and an average target price of $153.82.

Raymond James Stock Down 2.1%

Shares of RJF traded down $3.13 during midday trading on Friday, reaching $145.48. 917,923 shares of the stock were exchanged, compared to its average volume of 1,324,139. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The firm has a 50 day simple moving average of $142.57 and a 200-day simple moving average of $150.89. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market cap of $29.35 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. During the same period last year, the business earned $2.31 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James's dividend payout ratio (DPR) is presently 19.25%.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider now directly owns 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 Securities & Exchange Commission, which is accessible through this link. Also, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Raymond James Company 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.