Nykredit A S Makes New $9.81 Million Investment in Raymond James Financial, Inc. $RJF

Key Points

• Nykredit A/S acquired 64,520 shares of Raymond James Financial in the second quarter, valued at approximately $9.81 million. Institutional investors collectively own 83.83% of the company.
• Raymond James reported quarterly earnings of $3.14 per share, exceeding estimates of $2.91, while revenue rose 15.6% year over year to $3.93 billion.
• Analysts maintain a generally neutral outlook, with an average rating of “Hold” and a consensus price target of $181.46. The company also declared a quarterly dividend of $0.54 per share, representing a 1.2% yield.

Nykredit A S acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 64,520 shares of the financial services provider's stock, valued at approximately $9,809,000.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Raymond James Financial during the second quarter valued at approximately $2,180,699,000. Primecap Management Co. CA bought a new stake in Raymond James Financial during the second quarter worth about $1,405,145,000. Bank of America Corp DE bought a new stake in Raymond James Financial in the second quarter worth $360,592,000. Norges Bank bought a new position in shares of Raymond James Financial in the fourth quarter worth approximately $324,263,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Raymond James Financial in the 2nd quarter worth $182,254,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RJF has been the topic of a number of recent analyst reports. UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the company a "neutral" rating in a report on Monday, July 27th. Morgan Stanley increased their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a research report on Friday, July 10th. Weiss Ratings restated a "buy (b-)" rating on shares of Raymond James Financial in a report on Monday, August 17th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, Barclays increased their price target on Raymond James Financial from $192.00 to $196.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $181.46.

Insider Transactions at Raymond James Financial

In related news, insider Bella Allaire sold 7,500 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the completion of the sale, the insider owned 46,086 shares in the company, valued at approximately $8,184,873.60. This trade represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Raney sold 5,770 shares of Raymond James Financial stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This trade represents a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,270 shares of company stock valued at $4,090,637 over the last 90 days. Company insiders own 0.58% of the company's stock.

Raymond James Financial Stock Performance

Shares of NYSE RJF opened at $178.69 on Friday. The firm has a fifty day moving average price of $172.58 and a 200-day moving average price of $158.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The stock has a market cap of $34.37 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $182.73.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. Raymond James Financial's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.18 EPS. Equities analysts anticipate that Raymond James Financial, Inc. will post 12.08 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, October 1st. Raymond James Financial's payout ratio is presently 18.83%.

Raymond James Financial Company 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.

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF - Free Report).

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