Handelsbanken Fonder AB Has $5.34 Million Holdings in Raymond James (NYSE:RJF)

Handelsbanken Fonder AB grew its holdings in Raymond James (NYSE:RJFGet Rating) by 4.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 54,046 shares of the financial services provider’s stock after acquiring an additional 2,249 shares during the period. Handelsbanken Fonder AB’s holdings in Raymond James were worth $5,341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RJF. Zions Bancorporation N.A. raised its stake in shares of Raymond James by 222.5% in the 2nd quarter. Zions Bancorporation N.A. now owns 287 shares of the financial services provider’s stock valued at $26,000 after buying an additional 198 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Raymond James by 365.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 298 shares of the financial services provider’s stock valued at $27,000 after buying an additional 234 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Raymond James by 334.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 382 shares of the financial services provider’s stock valued at $34,000 after buying an additional 294 shares in the last quarter. Covestor Ltd raised its stake in shares of Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after buying an additional 138 shares in the last quarter. Finally, Clear Street Markets LLC raised its stake in shares of Raymond James by 434.2% in the 2nd quarter. Clear Street Markets LLC now owns 406 shares of the financial services provider’s stock valued at $36,000 after buying an additional 330 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RJF. Citigroup began coverage on shares of Raymond James in a research note on Tuesday, October 11th. They issued a “neutral” rating and a $117.00 price objective for the company. Morgan Stanley increased their price objective on shares of Raymond James from $113.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, October 31st. The Goldman Sachs Group lowered their target price on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, January 4th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a report on Thursday, November 24th. Finally, Keefe, Bruyette & Woods lowered shares of Raymond James from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $130.00 to $120.00 in a report on Monday, December 19th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $122.57.

Raymond James Stock Up 2.7 %

Shares of NYSE:RJF opened at $110.18 on Monday. Raymond James has a 12 month low of $84.86 and a 12 month high of $126.00. The company’s 50-day moving average price is $114.59 and its two-hundred day moving average price is $106.00. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. The firm has a market cap of $23.70 billion, a P/E ratio of 15.79 and a beta of 1.06.

Raymond James (NYSE:RJFGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. Raymond James had a net margin of 13.35% and a return on equity of 17.68%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm earned $2.06 EPS. The company’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Raymond James will post 9.4 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.52%. This is a positive change from Raymond James’s previous quarterly dividend of $0.34. Raymond James’s dividend payout ratio is currently 24.07%.

Insiders Place Their Bets

In other Raymond James news, insider George Catanese sold 3,489 shares of the stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $114.02, for a total transaction of $397,815.78. Following the sale, the insider now owns 11,862 shares of the company’s stock, valued at approximately $1,352,505.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider George Catanese sold 3,489 shares of the firm’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $114.02, for a total value of $397,815.78. Following the transaction, the insider now owns 11,862 shares of the company’s stock, valued at approximately $1,352,505.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 24,016 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $111.27, for a total transaction of $2,672,260.32. Following the completion of the transaction, the chief executive officer now directly owns 267,499 shares in the company, valued at approximately $29,764,613.73. The disclosure for this sale can be found here. Insiders own 10.25% of the company’s stock.

About Raymond James

(Get Rating)

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.

Further Reading

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 (NYSE:RJFGet Rating).

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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