Munich Reinsurance Co Stock Corp in Munich Boosts Stock Holdings in Raymond James Financial, Inc. $RJF

Munich Reinsurance Co Stock Corp in Munich increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 2.7% during the 2nd quarter, Holdings Channel reports. The fund owned 491,089 shares of the financial services provider’s stock after purchasing an additional 12,700 shares during the quarter. Raymond James Financial makes up approximately 1.7% of Munich Reinsurance Co Stock Corp in Munich’s investment portfolio, making the stock its 17th biggest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Raymond James Financial were worth $74,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Reflection Asset Management purchased a new stake in shares of Raymond James Financial during the fourth quarter worth approximately $28,000. Hilton Head Capital Partners LLC purchased a new position in Raymond James Financial in the fourth quarter worth approximately $35,000. Jones Financial Companies Lllp acquired a new position in Raymond James Financial during the 2nd quarter worth approximately $36,000. Steigerwald Gordon & Koch Inc. increased its position in shares of Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in shares of Raymond James Financial in the 4th quarter valued at approximately $40,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on RJF. Truist Financial set a $188.00 price objective on shares of Raymond James Financial and gave the stock a “hold” rating in a research report on Tuesday. Argus increased their target price on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. UBS Group set a $184.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and a consensus target price of $181.46.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $178.69 on Friday. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $182.73. The firm has a market capitalization of $34.37 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The company’s fifty day moving average price is $172.58 and its 200 day moving average price is $158.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. Raymond James Financial’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 12.08 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio is 18.83%.

Insider Buying and Selling

In other Raymond James Financial news, insider Steven Raney sold 5,770 shares of Raymond James Financial stock in a transaction that occurred on 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 owned 43,046 shares of the company’s stock, valued at $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bella Allaire sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $177.60, for a total value of $1,332,000.00. Following the completion of the sale, the insider owned 46,086 shares of the company’s stock, valued at approximately $8,184,873.60. This represents a 14.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,270 shares of company stock worth $4,090,637 in the last quarter. 0.58% of the stock is owned by insiders.

About Raymond James Financial

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.