Raymond James Financial, Inc. $RJF Stock Holdings Lifted by Swedbank AB

Key Points

• Swedbank AB increased its holdings in Raymond James Financial by 173% during the 2nd quarter, owning 31,598 shares valued at approximately $4.85 million.
• Various analysts have raised their price targets for Raymond James Financial, with JMP Securities setting a new target of $180.00, indicating a positive outlook for the stock.
• The company announced a quarterly dividend of $0.50 per share, which will be paid on October 15, with a current annualized yield of 1.1%.

Swedbank AB lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 173.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,598 shares of the financial services provider's stock after acquiring an additional 20,022 shares during the period. Swedbank AB's holdings in Raymond James Financial were worth $4,846,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial during the 1st quarter worth about $25,000. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial during the 1st quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after acquiring an additional 123 shares during the period. Olde Wealth Management LLC purchased a new position in Raymond James Financial in the first quarter valued at approximately $33,000. Finally, TCTC Holdings LLC raised its holdings in Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Stock Performance

Raymond James Financial stock traded up $1.38 during mid-day trading on Monday, reaching $175.44. The company's stock had a trading volume of 1,050,009 shares, compared to its average volume of 1,004,440. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.43 and a beta of 1.04. The business has a 50 day moving average price of $166.14 and a 200-day moving average price of $151.96. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a twelve month low of $117.57 and a twelve month high of $176.65.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the firm posted $2.39 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.1%. Raymond James Financial's payout ratio is 19.61%.

Analyst Upgrades and Downgrades

RJF has been the topic of several research reports. Citigroup restated a "neutral" rating and issued a $180.00 price target (up previously from $170.00) on shares of Raymond James Financial in a report on Monday. JMP Securities raised their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Morgan Stanley raised their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company lifted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, two have issued 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 an average price target of $165.30.

Raymond James Financial Company 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.