Mitsubishi UFJ Asset Management Co. Ltd. Has $64.22 Million Stock Position in Raymond James Financial, Inc. $RJF

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Raymond James Financial, Inc. (NYSE:RJF) by 4.8% during the third quarter, HoldingsChannel.com reports. The firm owned 372,074 shares of the financial services provider’s stock after buying an additional 16,915 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Raymond James Financial were worth $64,220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. West Branch Capital LLC bought a new stake in shares of Raymond James Financial in the 3rd quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new stake in Raymond James Financial in the third quarter valued at approximately $31,000. Quent Capital LLC bought a new stake in Raymond James Financial in the third quarter worth approximately $33,000. Clearstead Trust LLC increased its stake in shares of Raymond James Financial by 174.0% during the 3rd quarter. Clearstead Trust LLC now owns 285 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 181 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Raymond James Financial during the 3rd quarter valued at $50,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the transaction, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Down 4.4%

Raymond James Financial stock opened at $152.68 on Friday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market capitalization of $30.09 billion, a PE ratio of 14.94, a PEG ratio of 1.18 and a beta of 1.00. The business’s 50-day simple moving average is $164.93 and its 200-day simple moving average is $164.30.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 EPS. Equities research analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.54 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is presently 21.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Barclays assumed coverage on Raymond James Financial in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price target for the company. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Bank of America raised their price objective on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $182.17.

Raymond James Financial Profile

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.