Allianz Asset Management GmbH Grows Holdings in Raymond James Financial, Inc. $RJF

Allianz Asset Management GmbH boosted its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 24.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,067 shares of the financial services provider’s stock after acquiring an additional 11,680 shares during the period. Allianz Asset Management GmbH’s holdings in Raymond James Financial were worth $10,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Callan Family Office LLC lifted its holdings in shares of Raymond James Financial by 5.4% during the third quarter. Callan Family Office LLC now owns 2,754 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 140 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in Raymond James Financial during the 3rd quarter valued at approximately $1,487,000. Jones Financial Companies Lllp raised its stake in Raymond James Financial by 20.8% during the third quarter. Jones Financial Companies Lllp now owns 4,362 shares of the financial services provider’s stock valued at $766,000 after buying an additional 751 shares during the last quarter. Access Investment Management LLC boosted its holdings in Raymond James Financial by 1.1% in the third quarter. Access Investment Management LLC now owns 29,661 shares of the financial services provider’s stock worth $5,119,000 after acquiring an additional 320 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its stake in shares of Raymond James Financial by 9.2% in the third quarter. Mediolanum International Funds Ltd now owns 14,839 shares of the financial services provider’s stock worth $2,618,000 after acquiring an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider owned 260,546 shares in the company, valued at $42,508,079.90. This trade represents a 33.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RJF. Barclays initiated coverage on Raymond James Financial in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price target for the company. JMP Securities lifted their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday, January 22nd. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a report on Thursday, December 11th. Finally, Keefe, Bruyette & Woods upped their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average price target of $182.17.

Raymond James Financial Stock Up 2.9%

Raymond James Financial stock opened at $172.34 on Monday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The stock has a fifty day moving average of $165.90 and a 200 day moving average of $165.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The stock has a market cap of $34.03 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the company posted $2.93 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.54 per share. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, January 2nd. Raymond James Financial’s dividend payout ratio is currently 21.14%.

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.