Raymond James Financial, Inc. $RJF Shares Acquired by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its stake in Raymond James Financial by 71.3% in the fourth quarter, ending with 106,200 shares valued at about $17.1 million.
• Raymond James reported better-than-expected quarterly earnings of $2.83 per share, though revenue of $3.86 billion came in slightly below analyst estimates.
• The company announced a quarterly dividend of $0.54 per share, and analysts currently have a consensus rating of Hold on the stock with a $172.92 price target.

Forsta AP Fonden lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 71.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,200 shares of the financial services provider's stock after purchasing an additional 44,200 shares during the quarter. Forsta AP Fonden owned about 0.05% of Raymond James Financial worth $17,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Anfield Capital Management LLC acquired a new position in shares of Raymond James Financial during the 3rd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Raymond James Financial during the 4th quarter worth $32,000. Harbor Investment Advisory LLC grew its stake in shares of Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after purchasing an additional 172 shares during the period. Salomon & Ludwin LLC grew its stake in shares of Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after purchasing an additional 65 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Raymond James Financial during the 4th quarter worth $44,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.58% of the company's stock.

Raymond James Financial Trading Up 0.9%

NYSE RJF opened at $143.30 on Friday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $177.66. The company's 50 day moving average price is $149.83 and its 200 day moving average price is $157.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a market capitalization of $27.93 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.10 and a beta of 0.99.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm posted $2.42 earnings per share. Raymond James Financial's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Raymond James Financial, Inc. will post 11.84 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a yield of 1.5%. Raymond James Financial's dividend payout ratio (DPR) is presently 20.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. TD Cowen lowered their price target on shares of Raymond James Financial from $159.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group reissued a "neutral" rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Barclays reissued an "overweight" rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group lowered their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a research note on Monday, April 6th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $172.92.

About Raymond James Financial

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.

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