430,240 Shares in Raymond James Financial, Inc. $RJF Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 430,240 shares of the financial services provider’s stock, valued at approximately $65,409,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC grew its position in shares of Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares during the period. Algebris UK Ltd. acquired a new stake in Raymond James Financial during the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC raised its holdings in Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after buying an additional 7,202 shares in the last quarter. Finally, Swedbank AB lifted its stake in Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the sale, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.58% of the stock is currently owned by company insiders.

Raymond James Financial Trading Down 0.8%

NYSE:RJF opened at $177.93 on Thursday. The company has a market cap of $34.23 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. The business has a 50 day moving average price of $167.39 and a two-hundred day moving average price of $157.65. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the company earned $2.18 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. As a group, analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday. Argus upped their target price on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citizens Jmp upped their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 23rd. Finally, TD Cowen lowered their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $181.00.

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.