Raymond James Financial, Inc. $RJF Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Raymond James Financial by 31.5% in Q4 to 162,395 shares, valued at about $26.08 million (roughly 0.08% of the company).
• Institutional ownership is high at 83.83%, with several large funds — including JPMorgan (5.85M shares, ~$1.01B), AQR, Balyasny and Munich Re — materially increasing positions in recent quarters.
• Wall Street consensus remains a "Hold" with a $175.58 target; several analysts have recently cut price targets (Barclays, UBS, Jefferies) while Weiss Ratings upgraded the stock to a buy.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 31.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,395 shares of the financial services provider's stock after purchasing an additional 38,894 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Raymond James Financial worth $26,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Raymond James Financial in the third quarter valued at $69,861,000. Balyasny Asset Management L.P. boosted its holdings in shares of Raymond James Financial by 7,823.8% in the third quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider's stock valued at $49,809,000 after acquiring an additional 284,941 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Raymond James Financial by 44.9% during the third quarter. AQR Capital Management LLC now owns 783,144 shares of the financial services provider's stock worth $135,171,000 after buying an additional 242,552 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Raymond James Financial by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider's stock worth $1,009,342,000 after buying an additional 230,871 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Raymond James Financial by 10.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider's stock worth $406,941,000 after buying an additional 227,337 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Cowen restated a "hold" rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Barclays dropped their price target on shares of Raymond James Financial from $196.00 to $174.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. UBS Group decreased their price objective on shares of Raymond James Financial from $176.00 to $158.00 and set a "neutral" rating for the company in a research note on Wednesday, April 8th. Jefferies Financial Group decreased their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Finally, Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $175.58.

Raymond James Financial Stock Performance

Shares of RJF opened at $154.38 on Wednesday. The company's 50 day moving average price is $150.15 and its 200 day moving average price is $158.77. Raymond James Financial, Inc. has a 52 week low of $131.85 and a 52 week high of $177.66. The company has a market capitalization of $30.43 billion, a PE ratio of 15.11, a PEG ratio of 1.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.03. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.83 billion. During the same period in the previous year, the company earned $2.93 earnings per share. The company's revenue was up 5.6% compared to the same quarter last year. Research analysts expect that Raymond James Financial, Inc. will post 11.73 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date was Wednesday, April 1st. Raymond James Financial's dividend payout ratio is presently 21.14%.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction 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 sale, the insider owned 53,586 shares of the company's stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by company insiders.

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.

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