September 20, 2023 – Nordea Investment Management AB, a prominent investment management firm, has reported a decrease in its stake in shares of Raymond James (NYSE:RJF) during the second quarter. The company recently filed this information with the Securities & Exchange Commission. According to the filing, Nordea Investment Management AB owned about 110,690 shares of Raymond James’s stock after selling 67,755 shares in the quarter. This reduction represents a decline of 38% in their stake.
Based on their most recent filing with the Securities & Exchange Commission, the value of Nordea Investment Management AB’s holdings in Raymond James amounts to approximately $11,458,000. It is important to note that this figure reflects the worth of Nordea Investment Management AB’s stake as of the filing date.
Raymond James recently made an announcement regarding its quarterly dividend payment. Shareholders who are recorded as owners of Raymond James’s stock as of Monday, October 2nd will be eligible for a dividend payout of $0.42 per share. This dividend will be paid on Monday, October 16th. With an annualized dividend of $1.68 and a yield of 1.58%, Raymond James aims to provide favorable returns to its shareholders through periodic distributions.
The ex-dividend date for this particular dividend is set for Friday, September 29th. It is crucial for investors considering purchasing Raymond James’s stock to take note of this date since anyone who buys shares after this deadline will not qualify for the upcoming dividend payment.
Raymond James has maintained a steady dividend payout ratio (DPR) over time which currently stands at 21.21%. This ratio suggests that the company allocates around one-fifth of its earnings towards dividends and retains the remaining amount for reinvestment or other purposes.
Overall, Nordea Investment Management AB’s decrease in its stake in Raymond James underscores changing market dynamics and investment strategies. While the financial services provider remains a strong player in the industry, investors should carefully evaluate their investment decisions based on their own risk appetite and long-term financial goals.
For more information on Raymond James’s stock analysis and market updates, interested parties can refer to our latest reports.
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Recent News and Evaluations of Raymond James: Institutional Investors Increase Holdings, Research Firms Weigh In on Stock Performance
In recent news, a number of large investors have made modifications to their holdings of Raymond James (NYSE:RJF) stock. Quantinno Capital Management LP increased its holdings by 1.4%, Northwestern Mutual Wealth Management Co. saw a 3.0% increase in holdings, Avantax Advisory Services Inc. experienced a 3.7% increase, and Wetherby Asset Management Inc. noted a 5.0% increase in holdings during the last quarter. Additionally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS saw a modest increase of 0.4% during the same period.
The influence of institutional investors and hedge funds cannot be overlooked as they currently hold a significant stake of 75% in the company’s stock.
Several research firms have also weighed in on Raymond James and provided their evaluation of the stock’s performance. Morgan Stanley reduced the target price from $112.00 to $110.00 but maintained an “equal weight” rating for the company.
JPMorgan Chase & Co., on the other hand, began coverage and assigned a “neutral” rating with a price target of $121.00 for Raymond James.
Bank of America initiated coverage with a “buy” rating and set a target price of $122.00 for the company.
Jefferies Financial Group raised their target price from $112.00 to $120.00 and finally, StockNews.com rated Raymond James as “hold”.
Overall, seven equities research analysts believe that Raymond James will perform at par with market expectations (“hold” rating) while two experts have issued a positive outlook (“buy” rating). The average rating according to Bloomberg is classified as “Hold”, with an average price target set at $118.33.
On Wednesday, September 20th, Raymond James opened at $106.46 per share in what has become another average day for this financial services provider.
Raymond James is a company with a market capitalization of $22.23 billion, with a price-to-earnings ratio of 13.44 and a price-to-earnings-growth ratio of 0.90. The stock exhibits a beta of 1.06.
The 50-day moving average price stands at $106.74, while the 200-day moving average price is at $98.49.
Over the past year, Raymond James has experienced fluctuations in its share price, with lows observed at $82.00 and highs reaching $126.00.
Financially speaking, Raymond James released its quarterly earnings report on Wednesday, July 26th. The company reported earnings per share of $1.85 for the quarter, falling short of the market consensus estimate by ($0.25). Despite this setback, Raymond James recorded revenue of $2.91 billion during the quarter, which aligns closely with analyst expectations.
Comparing year-over-year figures, Raymond James witnessed a notable increase in revenue of 7%. This growth showcases the resilience and potential profitability within the company.
Equities research analysts predict that Raymond James will post an EPS (earnings per share) of 8.53 for this fiscal year.
As we move forward into the future, investors and analysts alike will continue to monitor Raymond James’ performance closely as it navigates through various market conditions and delivers returns to its shareholders.
