Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in Raymond James (NYSE:RJF)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Raymond James (NYSE:RJF) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,116 shares of the financial services provider’s stock after selling 4,832 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Raymond James were worth $13,687,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Assetmark Inc. raised its stake in Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after buying an additional 138 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Raymond James in the fourth quarter worth about $105,701,000. Franklin Resources Inc. grew its stake in shares of Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James during the 4th quarter valued at about $511,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Raymond James in the 4th quarter worth approximately $21,334,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

NYSE:RJF opened at $138.97 on Friday. The stock has a 50-day moving average price of $155.00 and a 200 day moving average price of $150.19. The stock has a market capitalization of $28.48 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a 12-month low of $104.24 and a 12-month 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 released its earnings results 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 net margin of 14.06% and a return on equity of 19.71%. Equities research analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RJF. Citigroup upped their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. JMP Securities upped their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Morgan Stanley lifted their target price 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. Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $167.55.

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.