Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in Raymond James Financial, Inc. $RJF

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,922 shares of the financial services provider’s stock after selling 6,814 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Raymond James Financial were worth $15,521,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Raymond James Financial by 14.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 51,601 shares of the financial services provider’s stock valued at $8,547,000 after purchasing an additional 6,379 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in Raymond James Financial in the 3rd quarter worth $622,000. Sequoia Financial Advisors LLC lifted its stake in Raymond James Financial by 78.0% in the second quarter. Sequoia Financial Advisors LLC now owns 5,750 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 2,520 shares during the last quarter. Access Investment Management LLC purchased a new stake in Raymond James Financial during the second quarter valued at about $4,500,000. Finally, Norges Bank bought a new position in shares of Raymond James Financial during the second quarter valued at about $354,446,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Price Performance

RJF opened at $169.01 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The stock has a market capitalization of $33.37 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.33 and a beta of 0.99. The stock’s 50 day moving average price is $163.75 and its 200-day moving average price is $164.58.

Raymond James Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.54 dividend. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.99%.

Analysts Set New Price Targets

RJF has been the subject of a number of recent research reports. Bank of America boosted their target price on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. JMP Securities lifted their price target on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Finally, UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $181.36.

Insider Buying and Selling

In other news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.