Mitsubishi UFJ Asset Management Co. Ltd. Purchases 15,395 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Raymond James by 4.1%, buying 15,395 shares to hold 387,469 shares (about 0.20% of the company) valued at $63.39 million at quarter-end.
• Raymond James reported EPS of $2.83, beating estimates of $2.76 while revenue of $3.86 billion slightly missed expectations but rose 13.4% year‑over‑year, and the company paid a $0.54 quarterly dividend (annualized $2.16, 1.4% yield).

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 387,469 shares of the financial services provider's stock after purchasing an additional 15,395 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Raymond James Financial worth $63,390,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in shares of Raymond James Financial by 30.8% in the third quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider's stock valued at $10,390,000 after purchasing an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Raymond James Financial by 28.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider's stock valued at $5,402,000 after purchasing an additional 6,953 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Raymond James Financial by 2,000.9% in the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider's stock valued at $781,000 after purchasing an additional 4,342 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Raymond James Financial by 24.6% in the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider's stock valued at $10,195,000 after purchasing an additional 11,680 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Raymond James Financial in the third quarter valued at $1,487,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company's stock.

Raymond James Financial Price Performance

RJF opened at $153.44 on Friday. The stock has a 50-day moving average price of $149.76 and a 200-day moving average price of $158.26. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $30.24 billion, a P/E ratio of 14.50, a PEG ratio of 1.22 and a beta of 0.99.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the prior year, the business earned $2.42 EPS. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts predict that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Wednesday, April 1st. Raymond James Financial's dividend payout ratio is presently 20.42%.

Analyst Upgrades and Downgrades

RJF has been the subject of several recent analyst reports. UBS Group restated a "neutral" rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Jefferies Financial Group reduced their target price on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research report on Monday, April 6th. TD Cowen restated a "hold" rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Morgan Stanley boosted their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial presently has a consensus rating of "Hold" and a consensus target price of $173.25.

About Raymond James Financial

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.

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