Elo Mutual Pension Insurance Co Boosts Stake in Raymond James (NYSE:RJF)

Elo Mutual Pension Insurance Co increased its holdings in shares of Raymond James (NYSE:RJF) by 19.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,881 shares of the financial services provider’s stock after acquiring an additional 3,376 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Raymond James were worth $3,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Raymond James by 9.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 291,192 shares of the financial services provider’s stock valued at $45,927,000 after buying an additional 24,494 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Raymond James in the 4th quarter worth $746,000. Morey & Quinn Wealth Partners LLC purchased a new stake in Raymond James in the 4th quarter worth $372,000. Meiji Yasuda Asset Management Co Ltd. raised its position in Raymond James by 15.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,154 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 413 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Raymond James by 20.3% during the fourth quarter. Prudential Financial Inc. now owns 347,404 shares of the financial services provider’s stock valued at $53,962,000 after purchasing an additional 58,721 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RJF shares. JMP Securities boosted their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Citigroup raised their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $167.55.

Raymond James Price Performance

Raymond James stock opened at $138.97 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $155.00 and a 200 day moving average price of $150.19. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The stock has a market cap of $28.48 billion, a P/E ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Sell-side analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. Raymond James’s dividend payout ratio is currently 19.51%.

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.