Skandinaviska Enskilda Banken AB publ Boosts Stock Position in Raymond James (NYSE:RJF)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Raymond James (NYSE:RJF) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,460 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Raymond James were worth $4,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in RJF. Smithfield Trust Co lifted its stake in Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Raymond James in the 4th quarter valued at $33,000. Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the 1st quarter worth $33,000. Finally, FinTrust Capital Advisors LLC lifted its position in Raymond James by 46.9% in the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 137 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Trading Up 0.2 %

Shares of Raymond James stock opened at $124.31 on Monday. The firm has a market cap of $25.60 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company’s 50-day simple moving average is $115.40 and its 200-day simple moving average is $120.33. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. As a group, equities research analysts anticipate that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Insiders Place Their Bets

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Wells Fargo & Company began coverage on Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, TD Cowen increased their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average price target of $130.70.

About Raymond James

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.