Nordea Investment Management AB Increases Position in Raymond James (NYSE:RJF)

Nordea Investment Management AB increased its holdings in Raymond James (NYSE:RJF) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,667 shares of the financial services provider’s stock after buying an additional 389 shares during the period. Nordea Investment Management AB’s holdings in Raymond James were worth $2,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of RJF. Wolff Wiese Magana LLC increased its stake in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new position in Raymond James during the second quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new position in Raymond James during the third quarter valued at $32,000. Gladius Capital Management LP purchased a new stake in Raymond James in the third quarter worth $34,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Raymond James in the third quarter valued at $37,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 over the last three months. 9.74% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RJF has been the subject of several research reports. Jefferies Financial Group increased their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $169.00 price objective (up from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $156.18.

Raymond James Stock Down 3.1 %

RJF opened at $154.41 on Friday. The firm has a market capitalization of $31.51 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. Raymond James has a one year low of $104.24 and a one year high of $171.38. The company has a fifty day moving average price of $160.03 and a 200-day moving average price of $135.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. Equities research analysts expect that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s dividend payout ratio is 20.60%.

Raymond James 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.