Mitsubishi UFJ Asset Management Co. Ltd. Buys 24,494 Shares of Raymond James (NYSE:RJF)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Raymond James (NYSE:RJF) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 291,192 shares of the financial services provider’s stock after acquiring an additional 24,494 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Raymond James were worth $45,927,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. State Street Corp lifted its stake in shares of Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after buying an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after buying an additional 488,245 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Raymond James by 0.3% during the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after acquiring an additional 12,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Raymond James by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider’s stock worth $167,472,000 after acquiring an additional 13,817 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on RJF. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley increased their price objective on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. JMP Securities boosted their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Bank of America raised their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report 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 analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.55.

Raymond James Stock Down 2.6 %

RJF opened at $138.97 on Friday. The firm’s 50 day simple moving average is $155.00 and its two-hundred day simple moving average is $150.42. The company has a market capitalization of $28.48 billion, a PE ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, equities analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. Raymond James’s payout ratio is currently 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.