Raymond James Financial, Inc. $RJF Shares Bought by Danske Bank A S

Key Points

• Danske Bank A/S increased its stake in Raymond James by 18.2% in Q4 to 174,474 shares, representing about 0.09% of the company and valued at roughly $28.02 million.
• Raymond James reported EPS of $2.83, beating estimates by $0.07, while revenue rose 13.4% year-over-year to $3.86 billion but came in slightly below consensus.
• Wall Street’s consensus rating is a Hold with an average price target of $173.25, reflecting mixed analyst views (four Buy ratings and nine Hold ratings).

Danske Bank A S grew its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,474 shares of the financial services provider's stock after acquiring an additional 26,913 shares during the quarter. Danske Bank A S owned about 0.09% of Raymond James Financial worth $28,019,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Raymond James Financial by 2.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 34,600 shares of the financial services provider's stock valued at $5,556,000 after acquiring an additional 693 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in Raymond James Financial in the fourth quarter worth about $58,000. Cardinal Capital Management raised its position in Raymond James Financial by 0.4% in the fourth quarter. Cardinal Capital Management now owns 28,372 shares of the financial services provider's stock worth $4,556,000 after acquiring an additional 109 shares in the last quarter. Barnes Pettey Financial Advisors LLC raised its position in Raymond James Financial by 1.0% in the fourth quarter. Barnes Pettey Financial Advisors LLC now owns 22,655 shares of the financial services provider's stock worth $3,638,000 after acquiring an additional 216 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its position in Raymond James Financial by 40.8% in the fourth quarter. Wealthfront Advisers LLC now owns 24,725 shares of the financial services provider's stock worth $3,971,000 after acquiring an additional 7,164 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen reiterated a "hold" rating and issued a $159.00 price target (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Barclays reiterated an "overweight" rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Jefferies Financial Group dropped their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a research report on Monday, April 6th. Morgan Stanley boosted their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Finally, BMO Capital Markets boosted their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a "market perform" rating in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $173.25.

Insider Buying and Selling at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares of the company's stock, valued at approximately $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 corporate insiders.

Raymond James Financial Price Performance

Shares of RJF opened at $156.33 on Friday. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.20 and a beta of 0.99. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The business's 50-day moving average is $149.65 and its 200-day moving average is $158.38.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts' consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The firm's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 EPS. Equities research analysts expect that Raymond James Financial, Inc. will post 11.83 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a $0.54 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial's dividend payout ratio is currently 20.42%.

Raymond James Financial 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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