Danske Bank A S Makes New Investment in Raymond James Financial, Inc. $RJF

Danske Bank A S bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 141,545 shares of the financial services provider’s stock, valued at approximately $21,519,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Raymond James Financial during the second quarter worth about $2,180,699,000. First Trust Advisors LP raised its holdings in Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after acquiring an additional 474,477 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Raymond James Financial by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after acquiring an additional 21,856 shares during the last quarter. Bank of America Corp DE lifted its stake in Raymond James Financial by 9.9% in the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after purchasing an additional 220,227 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Raymond James Financial by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after purchasing an additional 41,413 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the transaction, the insider owned 45,114 shares of the company’s stock, valued at $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Price Performance

RJF stock opened at $172.21 on Friday. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The stock has a market cap of $33.13 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The business has a fifty day moving average of $167.82 and a two-hundred day moving average of $157.70.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 EPS. As a group, research analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group set a $184.00 price target on Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Argus lifted their price objective on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Morgan Stanley upped their target price on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Finally, TD Cowen cut their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $181.00.

Raymond James Financial 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.