Resona Asset Management Co. Ltd. Sells 3,705 Shares of Raymond James Financial, Inc. $RJF

Resona Asset Management Co. Ltd. trimmed its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 5.6% in the third quarter, HoldingsChannel reports. The fund owned 62,036 shares of the financial services provider’s stock after selling 3,705 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Raymond James Financial were worth $10,747,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd lifted its stake in Raymond James Financial by 7.7% in the third quarter. UniSuper Management Pty Ltd now owns 20,785 shares of the financial services provider’s stock worth $3,587,000 after purchasing an additional 1,484 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Raymond James Financial by 2.2% in the third quarter. Teacher Retirement System of Texas now owns 69,990 shares of the financial services provider’s stock worth $12,080,000 after buying an additional 1,475 shares during the period. Tranquility Partners LLC lifted its stake in shares of Raymond James Financial by 1.7% in the 3rd quarter. Tranquility Partners LLC now owns 5,027 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 83 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Raymond James Financial during the 3rd quarter valued at about $11,943,000. Finally, Vest Financial LLC grew its position in Raymond James Financial by 2.0% during the 3rd quarter. Vest Financial LLC now owns 298,088 shares of the financial services provider’s stock worth $51,450,000 after acquiring an additional 5,822 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on RJF shares. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $181.36.

Insiders Place Their Bets

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares of the company’s stock, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Down 1.4%

Shares of NYSE RJF opened at $169.09 on Monday. The firm has a fifty day simple moving average of $163.19 and a two-hundred day simple moving average of $164.43. Raymond James Financial, Inc. has a 12 month low of $117.57 and a 12 month high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $33.39 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 1.32 and a beta of 0.99.

Raymond James Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.3%. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. Raymond James Financial’s dividend payout ratio (DPR) is 20.99%.

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.