MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $55.53 Million Stock Position in Raymond James (NYSE:RJF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of Raymond James (NYSE:RJF - Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 399,737 shares of the financial services provider's stock after acquiring an additional 25,669 shares during the period. Raymond James accounts for about 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings, making the stock its 19th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.20% of Raymond James worth $55,527,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RJF. FMR LLC boosted its stake in Raymond James by 2.2% during the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock valued at $1,013,066,000 after purchasing an additional 137,277 shares during the period. Geode Capital Management LLC boosted its stake in Raymond James by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock valued at $680,378,000 after purchasing an additional 40,576 shares during the period. Earnest Partners LLC boosted its stake in Raymond James by 1.0% during the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock valued at $393,554,000 after purchasing an additional 24,195 shares during the period. Invesco Ltd. boosted its stake in Raymond James by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock valued at $378,276,000 after purchasing an additional 192,904 shares during the period. Finally, Northern Trust Corp boosted its stake in Raymond James by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after purchasing an additional 327,739 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent analyst reports. JMP Securities restated a "market outperform" rating and set a $175.00 target price on shares of Raymond James in a research note on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of Raymond James in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price objective on Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley raised their price objective on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Raymond James presently has a consensus rating of "Hold" and an average price target of $153.82.

Insider Activity at Raymond James

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction 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 sale, the insider now directly owns 78,227 shares of the company's stock, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Raymond James Price Performance

Shares of RJF traded down $3.13 during mid-day trading on Friday, reaching $145.48. The company had a trading volume of 917,923 shares, compared to its average volume of 1,326,280. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The company's 50-day moving average is $142.57 and its 200-day moving average is $150.76. The company has a market capitalization of $29.35 billion, a P/E 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 issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) 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 company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

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

About Raymond James

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.