Nordea Investment Management AB Continues to Hold Holdings in Raymond James Financial, Inc. (RJF)
Nordea Investment Management AB continued to hold its stake in Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,409 shares of the financial services provider’s stock at the close of the 2nd quarter. Nordea Investment Management AB’s holdings in Raymond James Financial were worth $434,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in RJF. Burt Wealth Advisors purchased a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $150,000. Global X Management Co. LLC increased its position in shares of Raymond James Financial by 42.5% in the 1st quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 690 shares during the last quarter. Triangle Securities Wealth Management purchased a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $206,000. Pacer Advisors Inc. increased its position in shares of Raymond James Financial by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 206 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $225,000. 70.02% of the stock is currently owned by institutional investors.
In other Raymond James Financial news, insider Bella Loykhter Allaire sold 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $82.83, for a total value of $331,320.00. Following the completion of the sale, the insider now directly owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul C. Reilly sold 33,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the completion of the sale, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on RJF. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Wells Fargo & Company raised shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $86.00 to $90.00 in a research report on Thursday, September 14th. Zacks Investment Research raised shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Wednesday, August 30th. BidaskClub downgraded shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 6th. Finally, Instinet reissued a “buy” rating and issued a $90.00 price objective (up from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Raymond James Financial has a consensus rating of “Buy” and an average target price of $89.33.
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Raymond James Financial, Inc. (RJF) opened at 86.48 on Wednesday. The stock has a market capitalization of $12.43 billion, a P/E ratio of 20.57 and a beta of 1.67. Raymond James Financial, Inc. has a 52-week low of $56.61 and a 52-week high of $87.22. The company has a 50 day moving average of $80.89 and a 200-day moving average of $78.48.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company earned $0.93 EPS. Raymond James Financial’s revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial, Inc. will post $5.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, September 29th. Raymond James Financial’s payout ratio is 20.90%.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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