Flossbach Von Storch SE Makes New Investment in Raymond James Financial, Inc. (NYSE:RJF)

Flossbach Von Storch SE purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,475 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other institutional investors also recently added to or reduced their stakes in RJF. Norges Bank bought a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $294,647,000. GAMMA Investing LLC increased its position in shares of Raymond James Financial by 25,259.8% during the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider’s stock valued at $93,740,000 after purchasing an additional 672,164 shares during the period. Select Equity Group L.P. bought a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $81,611,000. Northern Trust Corp increased its position in shares of Raymond James Financial by 18.4% during the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after purchasing an additional 327,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Raymond James Financial by 17.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,519,696 shares of the financial services provider’s stock valued at $236,054,000 after purchasing an additional 226,633 shares during the period. 83.83% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider owned 74,586 shares in the company, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider owned 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Raymond James Financial Stock Performance

NYSE:RJF opened at $157.72 on Wednesday. The stock has a fifty day moving average price of $148.86 and a 200-day moving average price of $149.74. The company has a market cap of $31.82 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the firm posted $2.31 EPS. Raymond James Financial’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. Raymond James Financial’s payout ratio is 19.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup boosted their price objective on Raymond James Financial from $150.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday. The Goldman Sachs Group reduced their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Bank of America lowered shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $143.00 to $151.00 and gave the company a “neutral” rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $155.91.

About Raymond James Financial

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.