Handelsbanken Fonder AB Sells 5,320 Shares of Raymond James Financial, Inc. $RJF

Handelsbanken Fonder AB lowered its position in Raymond James Financial, Inc. (NYSE:RJF) by 7.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,919 shares of the financial services provider’s stock after selling 5,320 shares during the period. Handelsbanken Fonder AB’s holdings in Raymond James Financial were worth $9,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RJF. Kingsview Wealth Management LLC lifted its stake in shares of Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares in the last quarter. Algebris UK Ltd. bought a new stake in shares of Raymond James Financial during the fourth quarter worth about $10,179,000. Fisher Asset Management LLC raised its holdings in shares of Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after acquiring an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Raymond James Financial by 7.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after acquiring an additional 7,202 shares during the last quarter. Finally, Swedbank AB lifted its position in Raymond James Financial by 31.1% in the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after acquiring an additional 9,838 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $180.88 on Friday. The company has a market capitalization of $34.79 billion, a PE ratio of 15.77, a PEG ratio of 1.11 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $165.11 and its 200-day moving average price is $157.36. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the business posted $2.18 earnings per share. Raymond James Financial’s revenue was up 15.6% on a year-over-year basis. On average, equities analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RJF shares. Citizens Jmp increased their price objective on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Argus upped their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Barclays increased their price target on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $181.00.

Insider Buying and Selling at Raymond James Financial

In other news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Company 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.