PFA Pension Forsikringsaktieselskab Makes New Investment in Raymond James Financial, Inc. $RJF

PFA Pension Forsikringsaktieselskab bought a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 397,662 shares of the financial services provider’s stock, valued at approximately $64,640,000.

A number of other large investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its holdings in Raymond James Financial by 30.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after buying an additional 14,233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Raymond James Financial by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock valued at $5,402,000 after buying an additional 6,953 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Raymond James Financial by 2,000.9% in the 3rd quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after buying an additional 4,342 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Raymond James Financial by 24.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock valued at $10,195,000 after buying an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in Raymond James Financial in the 3rd quarter valued at approximately $1,487,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. UBS Group reaffirmed a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets raised their target price 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 reaffirmed a “hold” rating and issued a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial has an average rating of “Hold” and a consensus price target of $173.25.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $156.33 on Friday. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The firm has a market capitalization of $30.81 billion, a PE ratio of 14.78, a PEG ratio of 1.20 and a beta of 0.99. The business’s 50 day moving average is $149.65 and its 200-day moving average is $158.38. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm earned $2.42 EPS. Raymond James Financial’s revenue for the quarter was up 13.4% compared to the same quarter last year. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.83 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

About Raymond James Financial

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.