Raymond James (NYSE:RJF) Holdings Boosted by Achmea Investment Management B.V.

Achmea Investment Management B.V. grew its stake in shares of Raymond James (NYSE:RJF) by 67.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,506 shares of the financial services provider’s stock after purchasing an additional 4,239 shares during the quarter. Achmea Investment Management B.V.’s holdings in Raymond James were worth $1,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its position in Raymond James by 2.2% in the second quarter. American Century Companies Inc. now owns 119,003 shares of the financial services provider’s stock worth $14,710,000 after buying an additional 2,531 shares during the period. AGF Management Ltd. increased its holdings in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares during the period. Wetzel Investment Advisors Inc. lifted its position in Raymond James by 9.9% in the 2nd quarter. Wetzel Investment Advisors Inc. now owns 5,529 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 500 shares during the last quarter. MGO One Seven LLC boosted its stake in Raymond James by 41.4% during the 2nd quarter. MGO One Seven LLC now owns 17,020 shares of the financial services provider’s stock valued at $2,104,000 after purchasing an additional 4,982 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Raymond James by 9.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 21,201 shares of the financial services provider’s stock worth $2,621,000 after purchasing an additional 1,809 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RJF has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. UBS Group decreased their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group raised their price target on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Finally, Wells Fargo & Company assumed coverage on shares of Raymond James in a research note on Thursday. They set an “overweight” rating and a $138.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $130.70.

Raymond James Stock Performance

Shares of RJF opened at $117.89 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm’s 50 day moving average is $115.16 and its 200-day moving average is $120.29. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The stock has a market capitalization of $24.44 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.79 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.85 earnings per share. Equities research analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Raymond James Company Profile

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.