Mirae Asset Global Investments Co. Ltd. Has $3.18 Million Stake in Raymond James Financial, Inc. (NYSE:RJF)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 15.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,860 shares of the financial services provider’s stock after purchasing an additional 3,008 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Raymond James Financial were worth $3,178,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Private Trust Co. NA grew its position in Raymond James Financial by 23.9% in the 4th quarter. Private Trust Co. NA now owns 487 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 94 shares during the last quarter. SVB Wealth LLC acquired a new stake in Raymond James Financial during the fourth quarter worth about $254,000. Jones Financial Companies Lllp increased its stake in Raymond James Financial by 30.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,011 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 234 shares during the period. Plato Investment Management Ltd raised its holdings in Raymond James Financial by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Raymond James Financial by 31.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,579 shares of the financial services provider’s stock worth $2,109,000 after acquiring an additional 3,281 shares during the period. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RJF. Wells Fargo & Company cut their target price on Raymond James Financial from $176.00 to $143.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. JMP Securities restated a “market outperform” rating and issued a $175.00 price objective on shares of Raymond James Financial in a research note on Thursday, April 24th. Citigroup decreased their target price on shares of Raymond James Financial from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Bank of America cut shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 target price on the stock. in a research note on Wednesday, April 30th. Finally, Cowen restated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and an average target price of $153.82.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider owned 74,586 shares in the company, valued at $10,935,053.46. The trade was a 8.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James E. Bunn sold 3,650 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider owned 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Raymond James Financial Stock Up 2.3%

Shares of RJF opened at $158.20 on Thursday. The company has a market capitalization of $31.92 billion, a P/E ratio of 15.23, a PEG ratio of 1.86 and a beta of 1.02. Raymond James Financial, Inc. has a one year low of $104.24 and a one year high of $174.32. The business’s 50 day simple moving average is $147.17 and its 200-day simple moving average is $149.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the firm posted $2.31 EPS. Raymond James Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, July 1st. Raymond James Financial’s dividend payout ratio is currently 19.25%.

Raymond James Financial 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.