Comerica Bank lifted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 33.8% during the 4th quarter, HoldingsChannel reports. The firm owned 47,070 shares of the financial services provider’s stock after buying an additional 11,890 shares during the period. Comerica Bank’s holdings in Raymond James Financial were worth $4,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Raymond James Financial by 3.5% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,165 shares of the financial services provider’s stock worth $1,616,000 after purchasing an additional 643 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in shares of Raymond James Financial by 4.0% during the 4th quarter. Eqis Capital Management Inc. now owns 16,781 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 646 shares in the last quarter. Norinchukin Bank The grew its holdings in shares of Raymond James Financial by 12.8% during the 3rd quarter. Norinchukin Bank The now owns 5,711 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 650 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Raymond James Financial by 13.8% during the 2nd quarter. Gotham Asset Management LLC now owns 5,526 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 671 shares in the last quarter. Finally, Wright Investors Service Inc. grew its holdings in shares of Raymond James Financial by 19.1% during the 4th quarter. Wright Investors Service Inc. now owns 4,248 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 681 shares in the last quarter. 69.08% of the stock is currently owned by institutional investors.

RJF has been the topic of several analyst reports. Buckingham Research increased their target price on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Credit Suisse Group initiated coverage on Raymond James Financial in a report on Thursday, November 30th. They set an “underperform” rating and a $82.00 target price on the stock. Wells Fargo & Co reissued an “outperform” rating and set a $110.00 target price (up from $94.00) on shares of Raymond James Financial in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $102.00 target price on shares of Raymond James Financial in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $99.29.

Shares of Raymond James Financial, Inc. (NYSE RJF) opened at $91.02 on Thursday. The firm has a market capitalization of $13,240.00, a PE ratio of 22.09, a P/E/G ratio of 0.76 and a beta of 1.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.14 and a quick ratio of 1.12. Raymond James Financial, Inc. has a 12 month low of $71.35 and a 12 month high of $99.10.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.19. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. Raymond James Financial had a return on equity of 14.87% and a net margin of 9.00%. Raymond James Financial’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. equities analysts predict that Raymond James Financial, Inc. will post 6.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Wednesday, January 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 1.10%. Raymond James Financial’s dividend payout ratio (DPR) is 24.27%.

In related news, CEO Steven M. Raney sold 9,890 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $88.95, for a total value of $879,715.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Thomas A. James sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $85.98, for a total value of $17,196,000.00. The disclosure for this sale can be found here. Insiders sold 325,479 shares of company stock worth $28,161,533 over the last ninety days. 10.46% of the stock is currently owned by insiders.

WARNING: “Comerica Bank Has $4.56 Million Stake in Raymond James Financial, Inc. (RJF)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2018/02/15/comerica-bank-has-4-56-million-stake-in-raymond-james-financial-inc-rjf.html.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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