Meiji Yasuda Asset Management Co Ltd. Buys 260 Shares of Raymond James (NYSE:RJF)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Raymond James (NYSE:RJF) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,111 shares of the financial services provider’s stock after buying an additional 260 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Raymond James were worth $385,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RJF. Ontario Teachers Pension Plan Board raised its stake in shares of Raymond James by 4.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 240 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Raymond James by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock worth $49,603,000 after buying an additional 89,981 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of Raymond James by 36.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after buying an additional 2,328 shares during the period. Norden Group LLC increased its stake in shares of Raymond James by 3,257.7% during the first quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,419 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Raymond James by 5.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock valued at $28,937,000 after buying an additional 11,427 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group dropped their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. TD Cowen boosted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Jefferies Financial Group upped their price objective on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $130.70.

Raymond James Price Performance

Shares of RJF stock opened at $124.31 on Friday. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a market capitalization of $25.60 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.81 and a beta of 1.02. The stock’s 50-day simple moving average is $115.40 and its 200-day simple moving average is $120.34.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. Raymond James’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 EPS. As a group, equities analysts forecast that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction dated Monday, August 12th. The stock was 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s 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 sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

About Raymond James

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.