Mizuho Markets Cayman LP Acquires New Shares in Raymond James Financial, Inc. $RJF

Mizuho Markets Cayman LP acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 33,293 shares of the financial services provider’s stock, valued at approximately $5,347,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. increased its holdings in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC increased its holdings in Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock valued at $1,763,000 after purchasing an additional 62 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in Raymond James Financial by 2.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 68 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its holdings in Raymond James Financial by 1.3% in the fourth quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock valued at $892,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent analyst reports. TD Cowen reiterated a “hold” rating and issued a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Jefferies Financial Group decreased their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Morgan Stanley boosted their target price on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and an average target price of $173.25.

Raymond James Financial Stock Performance

RJF opened at $151.48 on Friday. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $177.66. The firm has a market capitalization of $29.52 billion, a PE ratio of 14.32, a PEG ratio of 1.15 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The business’s 50-day simple moving average is $149.56 and its 200 day simple moving average is $157.58.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. Raymond James Financial’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Raymond James Financial Company Profile

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.