Mitsubishi UFJ Trust & Banking Corp Sells 7,354 Shares of Raymond James Financial, Inc. $RJF

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 8.2% in the 4th quarter, Holdings Channel reports. The fund owned 82,568 shares of the financial services provider’s stock after selling 7,354 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Raymond James Financial were worth $13,260,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RJF. Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Raymond James Financial during the third quarter worth $69,861,000. Balyasny Asset Management L.P. increased its position in shares of Raymond James Financial by 7,823.8% during the third quarter. Balyasny Asset Management L.P. now owns 288,583 shares of the financial services provider’s stock worth $49,809,000 after acquiring an additional 284,941 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Raymond James Financial by 44.9% during the third quarter. AQR Capital Management LLC now owns 783,144 shares of the financial services provider’s stock worth $135,171,000 after acquiring an additional 242,552 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Raymond James Financial by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 5,847,869 shares of the financial services provider’s stock worth $1,009,342,000 after acquiring an additional 230,871 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Raymond James Financial by 37.1% during the fourth quarter. UBS Group AG now owns 841,859 shares of the financial services provider’s stock worth $135,194,000 after acquiring an additional 227,781 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This trade represents a 35.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays reissued an “overweight” rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Jefferies Financial Group decreased their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Morgan Stanley raised their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday. BMO Capital Markets raised their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and a consensus price target of $173.25.

Raymond James Financial Stock Down 1.3%

Raymond James Financial stock opened at $156.33 on Friday. The company has a market cap of $30.81 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a fifty day simple moving average of $149.65 and a 200 day simple moving average of $158.39. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 18.01%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $2.42 EPS. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

About Raymond James Financial

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.