BI Asset Management Fondsmaeglerselskab A S Purchases 2,047 Shares of Raymond James (NYSE:RJF)

BI Asset Management Fondsmaeglerselskab A S lifted its position in Raymond James (NYSE:RJFFree Report) by 86.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,421 shares of the financial services provider’s stock after acquiring an additional 2,047 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Raymond James were worth $493,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Raymond James in the 4th quarter worth approximately $1,108,000. Norges Bank bought a new position in shares of Raymond James in the 4th quarter worth $238,830,000. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Raymond James by 2.0% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,695 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 129 shares during the last quarter. Kentucky Retirement Systems boosted its position in Raymond James by 2.2% during the fourth quarter. Kentucky Retirement Systems now owns 15,036 shares of the financial services provider’s stock valued at $1,677,000 after purchasing an additional 330 shares in the last quarter. Finally, NorthRock Partners LLC purchased a new position in Raymond James in the fourth quarter valued at about $267,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research firms have recently weighed in on RJF. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. UBS Group cut their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. TD Cowen decreased their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Morgan Stanley boosted their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods decreased their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $126.22.

Get Our Latest Stock Report on Raymond James

Raymond James Stock Down 0.2 %

Shares of RJF stock opened at $123.39 on Friday. Raymond James has a twelve month low of $88.81 and a twelve month high of $131.19. The stock has a market cap of $25.58 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.84 and a beta of 1.03. The stock has a 50 day moving average of $125.14 and a 200 day moving average of $116.10. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJFGet Free Report) last posted its earnings results 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 firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $2.03 earnings per share. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Raymond James will post 9.53 EPS for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, June 28th. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

About Raymond James

(Free Report)

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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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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