Nykredit A S Invests $9.81 Million in Raymond James Financial, Inc. $RJF

Nykredit A S bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 64,520 shares of the financial services provider’s stock, valued at approximately $9,809,000.

Other institutional investors have also added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in Raymond James Financial in the 4th quarter worth approximately $28,000. Hilton Head Capital Partners LLC purchased a new position in shares of Raymond James Financial in the 4th quarter worth $35,000. Jones Financial Companies Lllp bought a new stake in shares of Raymond James Financial in the 2nd quarter worth about $36,000. Steigerwald Gordon & Koch Inc. raised its position in shares of Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after buying an additional 228 shares in the last quarter. Finally, Clearstead Trust LLC purchased a new stake in Raymond James Financial during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. TD Cowen reduced their price target on Raymond James Financial from $161.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, September 1st. Truist Financial set a $188.00 price objective on Raymond James Financial and gave the stock a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective 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. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.46.

Insider Activity

In other news, insider Steven Raney sold 5,770 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bella Allaire sold 7,500 shares of Raymond James Financial stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $177.60, for a total value of $1,332,000.00. Following the sale, the insider directly owned 46,086 shares of the company’s stock, valued at $8,184,873.60. This trade represents a 14.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 23,270 shares of company stock valued at $4,090,637. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Down 1.3%

NYSE:RJF opened at $178.69 on Friday. The company has a market capitalization of $34.37 billion, a P/E ratio of 15.58, a PEG ratio of 1.09 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $182.73. The firm has a fifty day simple moving average of $172.58 and a 200-day simple moving average of $158.66.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. On average, equities research analysts anticipate that Raymond James Financial, Inc. will post 12.08 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio is currently 18.83%.

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.