Mirae Asset Global Investments Co. Ltd. Acquires 3,698 Shares of Raymond James (NYSE:RJF)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Raymond James (NYSE:RJF) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,852 shares of the financial services provider’s stock after acquiring an additional 3,698 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Raymond James were worth $3,108,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of RJF. Y.D. More Investments Ltd increased its holdings in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Raymond James during the fourth quarter worth approximately $211,000. Mather Group LLC. increased its stake in Raymond James by 9.8% during the 4th quarter. Mather Group LLC. now owns 1,673 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 150 shares during the period. Longboard Asset Management LP acquired a new position in Raymond James in the 4th quarter valued at $245,000. Finally, RBA Wealth Management LLC bought a new stake in shares of Raymond James during the 4th quarter valued at $243,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by insiders.

Raymond James Stock Performance

Raymond James stock opened at $167.46 on Monday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market capitalization of $34.22 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.98 and a beta of 1.03. The business has a 50 day moving average of $162.09 and a 200-day moving average of $142.28.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. On average, equities research analysts predict that Raymond James will post 11.12 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 19.51%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods raised their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Raymond James has an average rating of “Hold” and a consensus price target of $166.09.

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.