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

Corebridge Financial Inc. lessened its position in shares of Raymond James (NYSE:RJF) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,218 shares of the financial services provider’s stock after selling 830 shares during the period. Corebridge Financial Inc.’s holdings in Raymond James were worth $7,024,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. JMP Securities boosted their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company boosted their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Performance

Shares of RJF stock opened at $138.97 on Friday. The stock has a market capitalization of $28.48 billion, a PE ratio of 13.56, a PEG ratio of 0.90 and a beta of 1.04. The business’s 50 day simple moving average is $155.00 and its 200 day simple moving average is $150.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a one year low of $104.24 and a one year high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings data 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 net margin of 14.06% and a return on equity of 19.71%. As a group, research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

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

Raymond James 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.