Mitsubishi UFJ Trust & Banking Corp Sells 7,354 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Raymond James Financial by 8.2%, selling 7,354 shares and retaining 82,568 shares valued at about $13.26 million at quarter end.
• Raymond James reported Q1 EPS of $2.83 (beating the $2.76 consensus) with revenue up 13.4% year‑over‑year to $3.86 billion, and pays a quarterly dividend of $0.54 (annualized yield ~1.4%).
• An insider, Bella Loykhter Allaire, sold 29,551 shares (~$4.2 million), while analysts hold a consensus "Hold" rating with a $173.25 average price target amid some mixed upgrades.

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,568 shares of the financial services provider's stock after selling 7,354 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Raymond James Financial were worth $13,260,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC bought a new stake in shares of Raymond James Financial during the third quarter valued at approximately $31,000. Quent Capital LLC bought a new stake in shares of Raymond James Financial during the third quarter valued at approximately $33,000. Anfield Capital Management LLC acquired a new position in Raymond James Financial in the third quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial in the fourth quarter valued at approximately $32,000. Finally, Harbor Investment Advisory LLC lifted its holdings in Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock valued at $34,000 after buying an additional 172 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Trading Down 1.3%

RJF opened at $156.33 on Friday. The firm's fifty day moving average is $149.65 and its two-hundred day moving average is $158.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market cap of $30.81 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66.

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

Raymond James Financial Dividend Announcement

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

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RJF. Barclays restated an "overweight" rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. UBS Group restated a "neutral" rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Morgan Stanley increased their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a report on Tuesday. Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Finally, TD Cowen restated a "hold" rating and issued a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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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