Home / FINANCIAL NEWS / Dai Ichi Life Insurance Company Ltd Decreases Position in Raymond James Financial, Inc. (NYSE:RJF)

Dai Ichi Life Insurance Company Ltd Decreases Position in Raymond James Financial, Inc. (NYSE:RJF)

Dai Ichi Life Insurance Company Ltd decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 79.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,646 shares of the financial services provider’s stock after selling 74,282 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Raymond James Financial were worth $1,496,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Burt Wealth Advisors purchased a new position in Raymond James Financial in the 2nd quarter worth approximately $150,000. Global X Management Co. LLC raised its position in shares of Raymond James Financial by 42.5% in the 1st quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 690 shares in the last quarter. Triangle Securities Wealth Management acquired a new position in shares of Raymond James Financial in the 2nd quarter valued at approximately $206,000. Pacer Advisors Inc. raised its position in shares of Raymond James Financial by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 206 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Raymond James Financial in the 2nd quarter valued at approximately $225,000. Institutional investors and hedge funds own 70.02% of the company’s stock.

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Shares of Raymond James Financial, Inc. (NYSE:RJF) opened at 84.33 on Friday. Raymond James Financial, Inc. has a one year low of $56.06 and a one year high of $85.97. The stock’s 50 day moving average price is $79.30 and its 200 day moving average price is $77.70. The stock has a market capitalization of $12.12 billion, a P/E ratio of 20.05 and a beta of 1.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.02. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. Raymond James Financial’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. On average, analysts forecast that Raymond James Financial, Inc. will post $5.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.22 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.88 annualized dividend and a yield of 1.04%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.90%.

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total value of $331,320.00. Following the completion of the sale, the insider now directly owns 37,513 shares of the company’s stock, valued at $3,107,201.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 33,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the completion of the sale, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by insiders.

Several research firms recently issued reports on RJF. BidaskClub lowered Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Nomura increased their price target on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Instinet reissued a “buy” rating and issued a $90.00 price target (up previously from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $85.00 target price (up previously from $82.50) on shares of Raymond James Financial in a research note on Monday, June 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, August 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.33.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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