Norinchukin Bank The increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 12.8% in the fourth quarter, Holdings Channel reports. The fund owned 6,443 shares of the financial services provider’s stock after purchasing an additional 732 shares during the period. Norinchukin Bank The’s holdings in Raymond James Financial were worth $575,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its stake in Raymond James Financial by 4.7% during the 4th quarter. BlackRock Inc. now owns 8,483,302 shares of the financial services provider’s stock valued at $757,558,000 after buying an additional 383,937 shares during the last quarter. Boston Partners raised its stake in Raymond James Financial by 3.0% during the 4th quarter. Boston Partners now owns 5,473,707 shares of the financial services provider’s stock valued at $488,802,000 after buying an additional 160,998 shares during the last quarter. Wells Fargo & Company MN raised its stake in Raymond James Financial by 21.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,002,228 shares of the financial services provider’s stock valued at $357,398,000 after buying an additional 693,916 shares during the last quarter. AGF Investments Inc. raised its stake in Raymond James Financial by 0.9% during the 4th quarter. AGF Investments Inc. now owns 1,244,190 shares of the financial services provider’s stock valued at $111,106,000 after buying an additional 11,466 shares during the last quarter. Finally, BT Investment Management Ltd raised its stake in Raymond James Financial by 0.7% during the 3rd quarter. BT Investment Management Ltd now owns 1,240,326 shares of the financial services provider’s stock valued at $104,597,000 after buying an additional 9,053 shares during the last quarter. Institutional investors and hedge funds own 68.35% of the company’s stock.
RJF has been the subject of a number of research reports. Credit Suisse Group reiterated an “underperform” rating and set a $95.00 target price (up from $82.00) on shares of Raymond James Financial in a research note on Tuesday, January 16th. Wells Fargo & Co reissued an “outperform” rating and set a $110.00 price objective (up previously from $94.00) on shares of Raymond James Financial in a research report on Thursday, January 4th. Buckingham Research boosted their price objective on shares of Raymond James Financial from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $102.00 price objective on shares of Raymond James Financial in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Raymond James Financial presently has an average rating of “Buy” and an average price target of $95.29.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.19. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. Raymond James Financial had a net margin of 9.00% and a return on equity of 14.87%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. sell-side analysts forecast that Raymond James Financial, Inc. will post 6.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 29th. Raymond James Financial’s dividend payout ratio is currently 24.27%.
In related news, CEO Steven M. Raney sold 9,890 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $88.95, for a total value of $879,715.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul C. Reilly sold 12,681 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $87.77, for a total transaction of $1,113,011.37. Following the completion of the transaction, the chief executive officer now directly owns 106,682 shares of the company’s stock, valued at approximately $9,363,479.14. The disclosure for this sale can be found here. Insiders sold a total of 62,557 shares of company stock valued at $5,618,203 in the last ninety days. 10.46% of the stock is currently owned by insiders.
TRADEMARK VIOLATION WARNING: This story was first posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3227898/raymond-james-financial-inc-rjf-position-boosted-by-norinchukin-bank-the.html.
Raymond James Financial Company Profile
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.
Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF).
Receive News & Ratings for Raymond James Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial and related companies with MarketBeat.com's FREE daily email newsletter.