Nordea Investment Management AB Purchases 389 Shares of Raymond James (NYSE:RJF)

Nordea Investment Management AB increased its position in shares of Raymond James (NYSE:RJF) by 2.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,667 shares of the financial services provider’s stock after acquiring an additional 389 shares during the period. Nordea Investment Management AB’s holdings in Raymond James were worth $2,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in Raymond James by 1.2% in the 2nd quarter. Victory Capital Management Inc. now owns 120,434 shares of the financial services provider’s stock valued at $14,887,000 after acquiring an additional 1,421 shares during the period. Acadian Asset Management LLC acquired a new stake in Raymond James in the second quarter valued at $708,000. Choreo LLC bought a new position in Raymond James during the 2nd quarter worth $330,000. Daiwa Securities Group Inc. lifted its holdings in Raymond James by 9.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 21,201 shares of the financial services provider’s stock worth $2,621,000 after buying an additional 1,809 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Raymond James by 2.2% during the 2nd quarter. American Century Companies Inc. now owns 119,003 shares of the financial services provider’s stock worth $14,710,000 after buying an additional 2,531 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RJF. Wells Fargo & Company restated an “equal weight” rating and set a $169.00 price objective (up from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. TD Cowen raised their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group increased their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $156.18.

Raymond James Stock Performance

Shares of RJF opened at $154.41 on Friday. Raymond James has a one year low of $104.24 and a one year high of $171.38. The company has a market cap of $31.51 billion, a PE ratio of 15.90, a P/E/G ratio of 0.91 and a beta of 1.02. The stock has a 50-day moving average of $160.03 and a 200-day moving average of $135.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the firm posted $2.13 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is 20.60%.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,621 shares of company stock worth $10,729,488. Insiders own 9.74% of the company’s stock.

Raymond James Company Profile

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.