Raymond James Financial, Inc. $RJF Stake Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 28.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,295 shares of the financial services provider’s stock after acquiring an additional 6,953 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Raymond James Financial were worth $5,402,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RJF. Primecap Management Co. CA lifted its position in shares of Raymond James Financial by 3.0% during the second quarter. Primecap Management Co. CA now owns 10,013,852 shares of the financial services provider’s stock worth $1,535,824,000 after purchasing an additional 295,163 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Raymond James Financial by 41.6% in the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after buying an additional 1,651,380 shares during the last quarter. First Trust Advisors LP raised its stake in Raymond James Financial by 39.9% during the second quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock valued at $381,212,000 after buying an additional 709,315 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Raymond James Financial by 3.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,406,749 shares of the financial services provider’s stock valued at $369,123,000 after buying an additional 71,495 shares in the last quarter. Finally, Norges Bank bought a new position in Raymond James Financial during the 2nd quarter worth approximately $354,446,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RJF. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Barclays initiated coverage on shares of Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 target price for the company. BMO Capital Markets raised their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.17.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $165.76 on Monday. The firm’s 50 day moving average is $164.55 and its two-hundred day moving average is $164.79. The firm has a market capitalization of $32.73 billion, a P/E ratio of 16.22, a PEG ratio of 1.30 and a beta of 1.00. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.74% and a net margin of 13.07%.The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 21.14%.

Insider Activity at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction dated 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 sale, the insider directly owned 260,546 shares in the company, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.58% of the company’s stock.

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.