Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Holdings in Raymond James (NYSE:RJF)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Raymond James (NYSE:RJF) by 17.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,339 shares of the financial services provider’s stock after selling 6,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Raymond James were worth $5,023,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares during the period. State Street Corp boosted its position in Raymond James by 0.7% during the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after purchasing an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Raymond James by 0.3% during the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after acquiring an additional 12,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Raymond James by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after purchasing an additional 7,121 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RJF has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. JMP Securities boosted their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Finally, TD Cowen lifted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.09.

Raymond James Stock Down 0.5 %

Shares of NYSE:RJF opened at $150.96 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $160.99 and a 200-day simple moving average of $146.16. The company has a market capitalization of $30.93 billion, a PE ratio of 14.73, a P/E/G ratio of 0.90 and a beta of 1.03. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, equities analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James’s dividend payout ratio is presently 19.51%.

Insider Activity at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $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 valued at $10,729,488. Company insiders own 0.54% 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.