Achmea Investment Management B.V. Buys 11,170 Shares of Raymond James (NYSE:RJF) (2024)

Posted by MarketBeat News on Jan 28th, 2024

Achmea Investment Management B.V. grew its holdings in shares of Raymond James (NYSE:RJF – Free Report) by 2,327.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,650 shares of the financial services provider’s stock after acquiring an additional 11,170 shares during the quarter. Achmea Investment Management B.V.’s holdings in Raymond James were worth $1,170,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A purchased a new position in Raymond James during the 2nd quarter valued at $31,000. RFP Financial Group LLC boosted its stake in Raymond James by 160.5% in the 2nd quarter. RFP Financial Group LLC now owns 323 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 199 shares in the last quarter. Covestor Ltd boosted its stake in Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 138 shares in the last quarter. Clear Street Markets LLC lifted its stake in Raymond James by 95.9% during the 1st quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 187 shares during the period. Finally, Resources Management Corp CT ADV lifted its stake in Raymond James by 661.3% during the 2nd quarter. Resources Management Corp CT ADV now owns 472 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 410 shares during the period. 75.00% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Performance

RJF stock opened at $113.22 on Friday. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.85 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. Raymond James has a twelve month low of $82.00 and a twelve month high of $116.58. The business’s fifty day simple moving average is $109.41 and its two-hundred day simple moving average is $105.43.

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Raymond James (NYSE:RJF – Get Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. Raymond James had a return on equity of 18.30% and a net margin of 12.81%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm posted $2.29 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts predict that Raymond James will post 9.18 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, December 29th. This is a positive change from Raymond James’s previous quarterly dividend of $0.42. Raymond James’s payout ratio is 22.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RJF. Jefferies Financial Group reaffirmed a “hold” rating and set a $117.00 price target (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. UBS Group dropped their price target on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group restated a “neutral” rating and issued a $116.00 price target (down from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. StockNews.com upgraded Raymond James from a “hold” rating to a “buy” rating in a research note on Friday. Finally, TD Cowen began coverage on Raymond James in a research note on Thursday, January 4th. They issued a “market perform” rating and a $121.00 price target for the company. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $117.63.

Read Our Latest Research Report on Raymond James

Insiders Place Their Bets

In other Raymond James news, insider George Catanese sold 3,866 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $106.75, for a total value of $412,695.50. Following the completion of the sale, the insider now owns 11,712 shares of the company’s stock, valued at $1,250,256. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Steven M. Raney sold 930 shares of Raymond James stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $110.42, for a total transaction of $102,690.60. Following the completion of the sale, the chief executive officer now owns 55,618 shares of the company’s stock, valued at $6,141,339.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider George Catanese sold 3,866 shares of Raymond James stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $106.75, for a total value of $412,695.50. Following the sale, the insider now directly owns 11,712 shares of the company’s stock, valued at approximately $1,250,256. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,840 shares of company stock valued at $1,315,040. 9.74% of the stock is currently owned by corporate insiders.

About Raymond James

(Free Report)

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.

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Let's break down the concepts and terms mentioned in the article:

Achmea Investment Management B.V.: This is an institutional investor that increased its holdings in Raymond James during the 3rd quarter, as reported in its Form 13F filing with the SEC. Institutional investors like Achmea often manage large portfolios of stocks and securities.
Raymond James (NYSE:RJF): Raymond James is a financial services provider whose stock is listed on the New York Stock Exchange under the ticker symbol RJF. The company operates in various segments, including Private Client Group, Capital Markets, Asset Management, RJ Bank, and Others.
Form 13F Filing: Institutional investment managers with over $100 million in assets under management are required to disclose their equity holdings quarterly using Form 13F. This provides transparency into the investment activities of large institutions.
Financial Metrics:
- Market Cap: The market capitalization of Raymond James is $23.76 billion, calculated by multiplying its current stock price by the total number of outstanding shares.
- Price-to-Earnings (P/E) Ratio: Raymond James has a P/E ratio of 14.19, indicating its stock price relative to its earnings per share (EPS).
- PEG Ratio: The PEG ratio is 0.85, which suggests the stock may be undervalued relative to its expected earnings growth.
- Beta: Raymond James has a beta of 1.03, indicating its volatility relative to the overall market.
- Quick Ratio and Current Ratio: These are liquidity ratios used to evaluate a company's ability to meet short-term obligations. Raymond James has quick and current ratios of 0.97 and 0.98, respectively.
- Debt-to-Equity Ratio: This ratio measures the proportion of debt financing relative to equity. Raymond James has a debt-to-equity ratio of 0.39, indicating a conservative capital structure.
Stock Performance: RJF stock opened at $113.22 with a 52-week range between $82.00 and $116.58. Moving averages provide insights into stock price trends, with Raymond James showing a fifty-day simple moving average of $109.41 and a two-hundred-day simple moving average of $105.43.
Quarterly Earnings: Raymond James reported quarterly earnings results, beating analyst estimates with $2.40 EPS. The company demonstrated a return on equity of 18.30% and a net margin of 12.81%. Its revenue for the quarter was $3.01 billion, representing an 8.0% increase year-over-year.
Dividend: Raymond James announced a quarterly dividend of $0.45 per share, reflecting a positive change from its previous dividend of $0.42. The company's payout ratio is 22.56%.
Analyst Ratings: Various research firms have provided ratings and price targets for RJF stock, with a consensus price target of $117.63. The stock has received both hold and buy ratings from analysts.
Insider Trading: Insiders at Raymond James, including CEO Steven M. Raney and insider George Catanese, have sold shares over recent months. Insider transactions are reported to the SEC and provide insights into management sentiment.
Company Overview: Raymond James Financial, Inc. engages in underwriting, distribution, trading, and brokerage of securities, as well as the sale of investment products globally. The company operates through multiple segments, catering to various financial services.

This analysis provides a comprehensive understanding of Raymond James' financial standing, market performance, analyst sentiment, and insider activities, crucial factors for investors evaluating the company's potential.