Raymond James Financial, Inc. $RJF Shares Bought by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management boosted its stake in Raymond James by 38.6% to 35,425 shares, valued at about $6.114 million per the latest SEC filing.
• Insider Bella Loykhter Allaire sold 29,551 shares on March 19 at an average price of $142.34 (≈$4.21 million), reducing her ownership by 35.54%.
• Raymond James posted quarterly EPS of $2.86 (beating estimates by $0.03) on $3.74 billion revenue (slightly below expectations) and declared a $0.54 quarterly dividend (annualized $2.16, ~1.5% yield; ex-dividend April 1).

Swiss Life Asset Management Ltd boosted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 38.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,425 shares of the financial services provider's stock after buying an additional 9,867 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Raymond James Financial were worth $6,114,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. West Branch Capital LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new stake in Raymond James Financial in the third quarter valued at approximately $31,000. Quent Capital LLC acquired a new position in Raymond James Financial during the 3rd quarter worth approximately $33,000. Anfield Capital Management LLC purchased a new stake in shares of Raymond James Financial in the 3rd quarter valued at approximately $33,000. Finally, Clearstead Trust LLC raised its holdings in shares of Raymond James Financial by 174.0% in the 3rd quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $143.63 on Friday. The firm's fifty day simple moving average is $159.97 and its 200-day simple moving average is $162.46. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The stock has a market capitalization of $28.31 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.07 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 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 company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business posted $2.93 earnings per share. Raymond James Financial's quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial's payout ratio is currently 21.14%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RJF. 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. Bank of America upped their price objective on Raymond James Financial from $194.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 10th. UBS Group set a $176.00 target price on Raymond James Financial and gave the stock a "neutral" rating in a research report on Thursday, December 11th. Barclays initiated coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an "overweight" rating and a $191.00 price target for the company. Finally, TD Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $182.17.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company's stock.

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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