Mirae Asset Global Investments Co. Ltd. Sells 3,453 Shares of Raymond James (NYSE:RJF)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Raymond James (NYSE:RJF) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Raymond James by 3.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,419 shares of the financial services provider’s stock worth $365,000 after buying an additional 100 shares in the last quarter. Addison Advisors LLC increased its stake in shares of Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 103 shares in the last quarter. SVB Wealth LLC increased its stake in shares of Raymond James by 5.6% during the third quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 108 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of Raymond James by 3.2% during the third quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 118 shares in the last quarter. Finally, Greenleaf Trust increased its stake in shares of Raymond James by 3.3% during the third quarter. Greenleaf Trust now owns 3,683 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 118 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Up 0.0 %

Shares of RJF stock opened at $121.96 on Friday. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $122.16 and its 200 day moving average is $111.40. The stock has a market capitalization of $25.49 billion, a P/E ratio of 15.28, a P/E/G ratio of 0.86 and a beta of 1.05.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS. Research analysts expect that Raymond James will post 9.36 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is presently 22.56%.

Insider Transactions at Raymond James

In other 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 transaction, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Art A. Garcia bought 879 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on RJF. Morgan Stanley raised their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and raised their price target for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. UBS Group reduced their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, TD Cowen raised their price target on shares of Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.88.

Raymond James 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.