Corebridge Financial Inc. Sells 830 Shares of Raymond James (NYSE:RJF)

Corebridge Financial Inc. lowered its stake in Raymond James (NYSE:RJF) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 45,218 shares of the financial services provider’s stock after selling 830 shares during the quarter. Corebridge Financial Inc.’s holdings in Raymond James were worth $7,024,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RJF. Cerity Partners LLC grew its holdings in Raymond James by 5.6% in the third quarter. Cerity Partners LLC now owns 17,534 shares of the financial services provider’s stock worth $2,147,000 after purchasing an additional 922 shares during the period. Bank of Montreal Can boosted its position in shares of Raymond James by 3.5% during the 3rd quarter. Bank of Montreal Can now owns 275,189 shares of the financial services provider’s stock worth $33,700,000 after purchasing an additional 9,378 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Raymond James by 9.4% in the 3rd quarter. D.A. Davidson & CO. now owns 5,391 shares of the financial services provider’s stock valued at $660,000 after buying an additional 461 shares during the period. Brooklyn Investment Group bought a new stake in Raymond James in the 3rd quarter valued at about $73,000. Finally, BNP Paribas Financial Markets raised its stake in Raymond James by 40.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 384,823 shares of the financial services provider’s stock worth $47,125,000 after buying an additional 110,496 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the subject of several recent research reports. Bank of America boosted their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Citigroup raised their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $167.55.

Raymond James Trading Down 2.6 %

NYSE:RJF opened at $138.97 on Friday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The firm has a 50-day moving average price of $155.00 and a two-hundred day moving average price of $150.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

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

Raymond James Announces Dividend

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