Mirae Asset Global Investments Co. Ltd. Decreases Holdings in Raymond James (NYSE:RJF)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Raymond James (NYSE:RJF) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,611 shares of the financial services provider’s stock after selling 3,453 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Raymond James were worth $2,744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RJF. Advisors Asset Management Inc. purchased a new position in shares of Raymond James in the third quarter worth $30,000. Covestor Ltd raised its holdings in shares of Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after buying an additional 138 shares during the last quarter. Clear Street Markets LLC raised its holdings in shares of Raymond James by 95.9% in the first quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock worth $36,000 after buying an additional 187 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of Raymond James in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Up 0.0 %

RJF stock opened at $121.96 on Friday. The firm has a market cap of $25.49 billion, a PE ratio of 15.28, a P/E/G ratio of 0.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The firm’s fifty day moving average is $122.16 and its 200 day moving average is $111.40. Raymond James has a one year low of $82.00 and a one year high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. On average, research analysts forecast that Raymond James will post 9.36 EPS for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. Raymond James’s dividend payout ratio (DPR) is 22.56%.

Analyst Ratings Changes

RJF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Jefferies Financial Group reissued a “hold” rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. TD Cowen raised their target price on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. The Goldman Sachs Group reissued a “neutral” rating and set a $116.00 target price (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Finally, UBS Group reduced their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.88.

Insider Activity

In other news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. Company insiders own 9.74% of the company’s stock.

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.