BI Asset Management Fondsmaeglerselskab A S Has $1.34 Million Position in Raymond James Financial, Inc. $RJF

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Raymond James Financial, Inc. (NYSE:RJF) by 34.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,236 shares of the financial services provider’s stock after selling 4,861 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Raymond James Financial were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after acquiring an additional 474,477 shares during the period. Victory Capital Management Inc. increased its position in Raymond James Financial by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after acquiring an additional 21,856 shares during the period. Dimensional Fund Advisors LP increased its position in Raymond James Financial by 10.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,357,328 shares of the financial services provider’s stock worth $406,941,000 after acquiring an additional 227,337 shares during the period. Invesco Ltd. raised its stake in Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after purchasing an additional 254,773 shares in the last quarter. Finally, Norges Bank bought a new stake in Raymond James Financial in the 4th quarter valued at about $324,263,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on RJF shares. Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Jefferies Financial Group lowered their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. BMO Capital Markets lifted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Finally, TD Cowen cut their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Raymond James Financial has an average rating of “Hold” and an average target price of $172.92.

Raymond James Financial Stock Performance

NYSE RJF opened at $154.75 on Thursday. The firm’s 50 day simple moving average is $152.88 and its 200 day simple moving average is $156.53. The firm has a market capitalization of $30.16 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.21 and a beta of 0.94. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating 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 business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $2.42 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.82 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Raymond James Financial Company Profile

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.