Mitsubishi UFJ Trust & Banking Corp Lowers Position in Raymond James (NYSE:RJF)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Raymond James (NYSE:RJF) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,116 shares of the financial services provider’s stock after selling 4,832 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Raymond James were worth $13,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. TCTC Holdings LLC grew its holdings in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd grew its stake in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Plato Investment Management Ltd grew its stake in 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 buying an additional 217 shares in the last quarter. Quarry LP increased its holdings 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 worth $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of Raymond James during the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the subject of several research reports. Keefe, Bruyette & Woods upped their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America raised their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JMP Securities upped their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lifted their price target on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Stock Down 2.6 %

Shares of Raymond James stock opened at $138.97 on Friday. The company’s 50 day moving average price is $155.00 and its 200-day moving average price is $150.19. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The stock has a market capitalization of $28.48 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Equities research analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

About Raymond James

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.