Mirae Asset Global Investments Co. Ltd. Boosts Stake in Raymond James (NYSE:RJF)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Raymond James (NYSE:RJF) by 25.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,154 shares of the financial services provider’s stock after buying an additional 3,282 shares during the period. 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 hedge funds also recently bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its holdings in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP acquired a new position in Raymond James during the second quarter worth $29,000. Covestor Ltd boosted its position in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the period. Smithfield Trust Co grew its stake in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

NYSE:RJF opened at $149.07 on Thursday. Raymond James has a 12 month low of $94.53 and a 12 month high of $150.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a market capitalization of $30.70 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The business’s fifty day moving average price is $126.21 and its 200 day moving average price is $121.82.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. On average, sell-side analysts anticipate that Raymond James will post 10.32 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.21%. Raymond James’s payout ratio is currently 18.54%.

Insider Transactions at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. TD Cowen raised their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, JMP Securities upped their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average target price of $140.91.

Raymond James Company 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.