2,019,197 Shares in Raymond James Financial, Inc. $RJF Acquired by Norges Bank

Norges Bank purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) during the fourth quarter, HoldingsChannel reports. The fund purchased 2,019,197 shares of the financial services provider’s stock, valued at approximately $324,263,000.

A number of other large investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake 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 worth $10,390,000 after acquiring an additional 14,233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $5,402,000 after acquiring an additional 6,953 shares during the last quarter. Plato Investment Management Ltd increased its stake 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 worth $781,000 after acquiring an additional 4,342 shares during the last quarter. Allianz Asset Management GmbH increased its stake 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 worth $10,195,000 after acquiring an additional 11,680 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Raymond James Financial in the 3rd quarter worth approximately $1,487,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James Financial

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 transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares in the company, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. TD Cowen reduced their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group reissued a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Morgan Stanley boosted their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $172.92.

Raymond James Financial Price Performance

RJF opened at $146.10 on Tuesday. The business has a fifty day moving average of $149.89 and a 200 day moving average of $156.97. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market cap of $28.47 billion, a P/E ratio of 13.81, a PEG ratio of 1.10 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $2.42 EPS. Raymond James Financial’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.84 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. Raymond James Financial’s payout ratio is presently 20.42%.

Raymond James Financial 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.