Handelsbanken Fonder AB Acquires 1,549 Shares of Raymond James (NYSE:RJF)

Handelsbanken Fonder AB raised its position in shares of Raymond James (NYSE:RJF) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 44,316 shares of the financial services provider’s stock after buying an additional 1,549 shares during the quarter. Handelsbanken Fonder AB’s holdings in Raymond James were worth $4,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in RJF. Steph & Co. increased its stake in Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 91 shares during the last quarter. Federated Hermes Inc. increased its stake in Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 96 shares during the last quarter. Addison Advisors LLC increased its stake in Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares during the last quarter. SVB Wealth LLC increased its stake in Raymond James by 5.6% in the 3rd quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 108 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its position in shares of Raymond James by 3.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 118 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Trading Down 4.4 %

Raymond James stock opened at $121.95 on Friday. The stock has a 50-day moving average of $123.04 and a two-hundred day moving average of $112.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. Raymond James has a one year low of $82.00 and a one year high of $131.19. The stock has a market cap of $25.49 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. On average, research analysts anticipate that Raymond James will post 9.45 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is presently 21.77%.

Insider Activity

In other news, Director Art A. Garcia acquired 879 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares in the company, valued at $98,711.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RJF shares. Jefferies Financial Group reissued a “hold” rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods cut their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday. TD Cowen cut their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Raymond James has an average rating of “Hold” and a consensus price target of $126.22.

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.