Mitsubishi UFJ Asset Management Co. Ltd. Purchases 24,494 Shares of Raymond James (NYSE:RJF)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Raymond James (NYSE:RJF) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 291,192 shares of the financial services provider’s stock after purchasing an additional 24,494 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.14% of Raymond James worth $45,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC lifted its position in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the last quarter. Quarry LP boosted its stake in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Raymond James during the 4th quarter valued at $68,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on RJF. JPMorgan Chase & Co. upped their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the company from $161.00 to $185.00 in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley lifted their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $167.55.

Raymond James Trading Down 2.6 %

Shares of RJF opened at $138.97 on Friday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $155.00 and its 200-day moving average price is $150.42. The firm has a market capitalization of $28.48 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Sell-side analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Raymond James Company Profile

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.