Swedbank AB Increases Position in Raymond James Financial, Inc. $RJF

Key Points

• Swedbank AB boosted its Raymond James Financial stake by 31.1% in the fourth quarter, adding 9,838 shares and bringing its total holdings to 41,436 shares worth about $6.65 million.
• Analysts remain cautious overall on RJF, with a consensus rating of “Hold” and an average price target of $173.25, despite several firms recently raising their targets.
• Raymond James posted solid quarterly results and declared a dividend: EPS of $2.83 topped estimates, revenue rose 13.4% year over year, and the company announced a $0.54 quarterly dividend payable July 15.

Swedbank AB raised its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,436 shares of the financial services provider's stock after purchasing an additional 9,838 shares during the period. Swedbank AB's holdings in Raymond James Financial were worth $6,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial during the fourth quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new position in Raymond James Financial during the third quarter worth approximately $33,000. Harbor Investment Advisory LLC increased its position in Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after purchasing an additional 172 shares during the last quarter. Salomon & Ludwin LLC increased its position in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Raymond James Financial during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RJF shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. UBS Group reaffirmed a "neutral" rating and set a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Barclays reaffirmed an "overweight" rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Morgan Stanley upped 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 upped 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 analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $173.25.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $152.36 on Wednesday. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The firm has a fifty day moving average of $149.83 and a 200-day moving average of $157.48. The firm has a market capitalization of $29.69 billion, a P/E ratio of 14.40, a PEG ratio of 1.16 and a beta of 0.99. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. The business's quarterly revenue was up 13.4% compared to the same quarter last year. As a group, analysts predict that Raymond James Financial, Inc. will post 11.83 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial's dividend payout ratio is presently 20.42%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the 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 completion of the sale, the insider owned 53,586 shares of the company's stock, valued at $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

About Raymond James Financial

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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