ING Groep NV Acquires New Stake in Raymond James (NYSE:RJF)

ING Groep NV bought a new position in Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,269 shares of the financial services provider’s stock, valued at approximately $1,284,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its holdings in shares of Raymond James by 17.0% in the fourth quarter. Handelsbanken Fonder AB now owns 69,761 shares of the financial services provider’s stock valued at $10,836,000 after buying an additional 10,141 shares during the period. Ieq Capital LLC lifted its holdings in Raymond James by 57.6% in the 4th quarter. Ieq Capital LLC now owns 8,055 shares of the financial services provider’s stock valued at $1,251,000 after acquiring an additional 2,944 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new position in shares of Raymond James during the 4th quarter valued at about $208,000. Joel Adams & Associates Inc. bought a new position in shares of Raymond James during the 4th quarter valued at about $378,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Raymond James in the 4th quarter worth approximately $625,000. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Down 2.4 %

NYSE:RJF opened at $151.34 on Monday. The stock has a market cap of $31.01 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock’s 50-day moving average is $161.30 and its two-hundred day moving average is $145.58.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating 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%. As a group, equities research analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Analysts Set New Price Targets

A number of analysts recently weighed in on RJF shares. Morgan Stanley raised their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Bank of America boosted their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JMP Securities increased their price target 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 target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $166.09.

Insider Transactions at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is owned by insiders.

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.