Lansforsakringar Fondforvaltning AB publ Has $6 Million Stock Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Lansforsakringar Fondforvaltning AB has reduced its holdings in Raymond James Financial, Inc. by 9.0%, selling 4,296 shares, leaving it with a total of 43,196 shares valued at approximately $6 million.
• Several large investors have increased their positions in Raymond James Financial, with BNP Paribas Financial Markets boosting its holdings by 17.1%, now owning 578,705 shares valued at $80.4 million.
• Raymond James Financial reported a quarterly EPS of $2.18, missing expectations, while the company plans to pay a dividend of $0.50 per share on October 15th, representing a 1.2% yield.

Lansforsakringar Fondforvaltning AB publ cut its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,196 shares of the financial services provider's stock after selling 4,296 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Raymond James Financial were worth $6,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RJF. Victory Capital Management Inc. raised its holdings in Raymond James Financial by 1,502.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock valued at $261,587,000 after acquiring an additional 1,765,588 shares during the period. Nuveen LLC bought a new stake in shares of Raymond James Financial during the first quarter worth about $111,368,000. GAMMA Investing LLC grew its position in Raymond James Financial by 25,259.8% in the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after purchasing an additional 672,164 shares in the last quarter. Select Equity Group L.P. bought a new position in Raymond James Financial in the 4th quarter worth approximately $81,611,000. Finally, Invesco Ltd. boosted its holdings in Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock valued at $403,038,000 after purchasing an additional 466,129 shares during the period. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RJF. JPMorgan Chase & Co. lifted their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of 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. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, JMP Securities raised their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Raymond James Financial currently has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Stock Performance

NYSE:RJF traded down $6.93 during trading hours on Friday, reaching $164.16. 474,249 shares of the company's stock were exchanged, compared to its average volume of 1,280,229. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32. The company has a 50-day moving average of $163.23 and a 200 day moving average of $150.40. The firm has a market capitalization of $32.73 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.37 and a beta 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 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $2.39 EPS. Research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

About Raymond James Financial

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.