Nykredit A S Purchases Shares of 64,520 Raymond James Financial, Inc. $RJF

Key Points

• Nykredit A/S acquired 64,520 shares of Raymond James Financial during the second quarter, valued at approximately $9.8 million. Institutional investors collectively own 83.83% of the company.
• Analysts maintain a generally positive-to-neutral outlook, with five Buy ratings and nine Holds. The consensus rating is Hold, with an average price target of $181.46.
• Raymond James exceeded quarterly earnings expectations, reporting $3.14 in EPS and $3.93 billion in revenue, while revenue rose 15.6% year over year. The company also declared a quarterly dividend of $0.54 per share, representing a 1.3% yield.

Nykredit A S acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the second quarter, according to the company in its most recent disclosure 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.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in Raymond James Financial in the second quarter worth $2,180,699,000. Primecap Management Co. CA purchased a new stake in Raymond James Financial during the second quarter valued at $1,405,145,000. Victory Capital Management Inc. lifted its position in Raymond James Financial by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider's stock valued at $447,381,000 after purchasing an additional 21,856 shares during the last quarter. Bank of America Corp DE bought a new position in Raymond James Financial during the second quarter valued at $360,592,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Raymond James Financial by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider's stock worth $347,390,000 after buying an additional 41,413 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RJF shares. BMO Capital Markets restated a "market perform" rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup reaffirmed a "market outperform" rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Monday, August 17th. Argus boosted their price objective on Raymond James Financial from $178.00 to $196.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Citizens Jmp upped their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $181.46.

Insider Activity

In other news, insider Steven Raney sold 5,770 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider owned 43,046 shares of the company's stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tashtego Elwyn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the sale, the insider owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 23,270 shares of company stock valued at $4,090,637. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Trading Down 0.1%

Shares of RJF opened at $164.53 on Monday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. The company has a market cap of $31.65 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.01 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company's fifty day simple moving average is $174.38 and its 200-day simple moving average is $159.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion during 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%. The firm's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.18 EPS. As a group, analysts expect that Raymond James Financial, Inc. will post 12.08 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, October 1st. Raymond James Financial's payout ratio is 18.83%.

About Raymond James Financial

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Founded in 1962, the company provides investment, wealth management and financial planning services to individuals, corporations, institutions and municipalities.

Through its principal businesses, Raymond James offers securities brokerage, investment advisory, retirement planning, trust services and banking products. Its operations also include equity and debt capital markets, investment banking, institutional sales and trading, research, and asset management.

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