Norges Bank Purchases Shares of 2,141,974 Raymond James (NYSE:RJF)

Norges Bank bought a new position in Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,141,974 shares of the financial services provider's stock, valued at approximately $238,830,000. Norges Bank owned about 1.02% of Raymond James as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RJF. Teacher Retirement System of Texas boosted its position in shares of Raymond James by 1.5% in the third quarter. Teacher Retirement System of Texas now owns 15,704 shares of the financial services provider's stock worth $1,577,000 after acquiring an additional 235 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Raymond James by 3.4% during the third quarter. Daiwa Securities Group Inc. now owns 16,539 shares of the financial services provider's stock valued at $1,661,000 after buying an additional 547 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Raymond James by 10.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,023 shares of the financial services provider's stock valued at $504,000 after buying an additional 492 shares in the last quarter. Signaturefd LLC lifted its position in Raymond James by 3.4% during the third quarter. Signaturefd LLC now owns 7,289 shares of the financial services provider's stock valued at $732,000 after buying an additional 239 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its position in Raymond James by 2,327.1% during the third quarter. Achmea Investment Management B.V. now owns 11,650 shares of the financial services provider's stock valued at $1,170,000 after buying an additional 11,170 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

Raymond James stock traded down $1.19 during trading hours on Wednesday, reaching $123.60. 1,013,143 shares of the company were exchanged, compared to its average volume of 1,034,931. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.85 and a beta of 1.03. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $125.07 and a 200 day moving average of $116.05. Raymond James has a 12 month low of $88.81 and a 12 month high of $131.19.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company posted $2.03 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Raymond James will post 9.53 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.46%. Raymond James's dividend payout ratio is 21.77%.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the company's stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company's stock, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of analyst reports. JMP Securities reiterated a "market perform" rating on shares of Raymond James in a research note on Tuesday, April 9th. StockNews.com lowered shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. TD Cowen dropped their price objective on shares of Raymond James from $131.00 to $126.00 and set a "hold" rating on the stock in a research note on Thursday, April 25th. Citigroup lifted their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Finally, UBS Group reduced their price objective on shares of Raymond James from $116.00 to $115.00 and set a "neutral" rating for the company in a report on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $126.22.

Raymond James 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.