Skandinaviska Enskilda Banken AB publ Has $5.78 Million Holdings in Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Raymond James Financial, Inc. by 8.2% in Q1, bringing its total holdings to 41,577 shares, valued at approximately $5.8 million.
• Several institutional investors have also adjusted their positions in Raymond James Financial, with hedge funds owning 83.83% of the stock.
• Wall Street analysts are optimistic, with target price adjustments, and the stock holds an average rating of "Hold" with a target price of $163.80.

Skandinaviska Enskilda Banken AB publ raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,577 shares of the financial services provider's stock after purchasing an additional 3,152 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Raymond James Financial were worth $5,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RJF. Norges Bank purchased a new stake in shares of Raymond James Financial during the 4th quarter worth about $294,647,000. Victory Capital Management Inc. raised its stake in shares of Raymond James Financial by 1,502.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock worth $261,587,000 after purchasing an additional 1,765,588 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Raymond James Financial by 25,259.8% during the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after purchasing an additional 672,164 shares in the last quarter. Select Equity Group L.P. purchased a new stake in shares of Raymond James Financial during the 4th quarter worth about $81,611,000. Finally, Northern Trust Corp raised its stake in shares of Raymond James Financial by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock worth $327,314,000 after purchasing an additional 327,739 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday. Morgan Stanley increased their price objective on Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday. Bank of America lowered Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a report on Wednesday, April 30th. Finally, Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Raymond James Financial currently has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Stock Performance

RJF traded down $1.25 during midday trading on Monday, reaching $167.28. The company's stock had a trading volume of 799,991 shares, compared to its average volume of 1,096,188. The stock has a market cap of $33.75 billion, a P/E ratio of 16.40, a PEG ratio of 1.40 and a beta of 1.02. The company has a fifty day simple moving average of $152.90 and a 200 day simple moving average of $150.07. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial, Inc. has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $2.39 EPS. Research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

Raymond James Financial Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.