Mirae Asset Global Investments Co. Ltd. increased its holdings in Raymond James (NYSE:RJF – Free Report) by 25.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,154 shares of the financial services provider’s stock after acquiring an additional 3,282 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Raymond James were worth $1,978,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wolff Wiese Magana LLC increased its stake in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Quarry LP purchased a new position in shares of Raymond James during the second quarter worth about $29,000. Covestor Ltd increased its position in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares during the period. Smithfield Trust Co raised its stake in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.
Raymond James Stock Performance
Shares of RJF stock opened at $149.07 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a market cap of $30.70 billion, a PE ratio of 15.35, a P/E/G ratio of 0.76 and a beta of 1.02. Raymond James has a 1 year low of $94.53 and a 1 year high of $150.94. The stock has a fifty day moving average price of $126.21 and a 200 day moving average price of $121.82.
Raymond James Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. Raymond James’s dividend payout ratio is presently 18.54%.
Insider Transactions at Raymond James
In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.74% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. UBS Group dropped their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $140.91.
Check Out Our Latest Research Report on Raymond James
Raymond James Profile
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.
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