Handelsbanken Fonder AB lessened its holdings in shares of Raymond James (NYSE:RJF – Free Report) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,285 shares of the financial services provider’s stock after selling 4,494 shares during the period. Handelsbanken Fonder AB’s holdings in Raymond James were worth $5,063,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. NorthRock Partners LLC acquired a new position in shares of Raymond James during the 4th quarter worth approximately $225,000. HM Payson & Co. grew its holdings in shares of Raymond James by 1,879.3% during the 1st quarter. HM Payson & Co. now owns 1,623 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 1,541 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in shares of Raymond James during the 4th quarter worth $133,000. Bleakley Financial Group LLC acquired a new stake in shares of Raymond James during the 4th quarter worth $333,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Raymond James by 14.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 43,908 shares of the financial services provider’s stock worth $4,733,000 after purchasing an additional 5,570 shares in the last quarter. Institutional investors and hedge funds own 74.14% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on RJF shares. Jefferies Financial Group increased their target price on Raymond James from $112.00 to $120.00 in a report on Monday, July 10th. StockNews.com assumed coverage on Raymond James in a research note on Thursday, May 18th. They set a “hold” rating for the company. Morgan Stanley decreased their price target on Raymond James from $121.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, April 20th. Finally, Citigroup dropped their price objective on Raymond James from $130.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $118.00.
Insider Buying and Selling
Raymond James Trading Up 1.2 %
NYSE RJF opened at $110.92 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.44. Raymond James has a twelve month low of $82.00 and a twelve month high of $126.00. The company has a market cap of $23.51 billion, a price-to-earnings ratio of 14.61 and a beta of 1.04. The business’s fifty day moving average is $97.85 and its 200 day moving average is $100.15.
Raymond James (NYSE:RJF – Get Free Report) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.14). Raymond James had a net margin of 14.01% and a return on equity of 18.43%. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the business earned $1.55 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Raymond James will post 8.64 EPS for the current fiscal year.
Raymond James Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $1.68 annualized dividend and a yield of 1.51%. Raymond James’s dividend payout ratio is presently 22.13%.
About Raymond James
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.
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