Mizuho Markets Cayman LP Invests $5.35 Million in Raymond James Financial, Inc. $RJF

Key Points

• Mizuho Markets Cayman LP opened a new position in Raymond James Financial, buying 33,293 shares worth about $5.35 million in the fourth quarter.
• Raymond James Financial reported strong quarterly earnings of $2.83 per share, beating analyst expectations, while revenue rose 13.4% year over year to $3.86 billion.
• The company declared a quarterly dividend of $0.54 per share, equal to $2.16 annually and a 1.4% yield; meanwhile, analysts’ consensus rating remains Hold with a target price of $173.25.

Mizuho Markets Cayman LP acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,293 shares of the financial services provider's stock, valued at approximately $5,347,000.

Other institutional investors have also bought and sold shares of the company. Anfield Capital Management LLC acquired a new stake in Raymond James Financial in the 3rd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Raymond James Financial in the 4th quarter valued at $32,000. Harbor Investment Advisory LLC boosted its stake in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock valued at $34,000 after buying an additional 172 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after buying an additional 65 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Raymond James Financial in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley lifted their price objective on Raymond James Financial from $171.00 to $172.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. 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 research report on Thursday, April 23rd. BMO Capital Markets lifted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research report on Thursday, April 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday. Finally, Barclays reiterated an "overweight" rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Raymond James Financial has an average rating of "Hold" and a consensus target price of $173.25.

Raymond James Financial Trading Up 0.7%

RJF stock opened at $151.48 on Friday. The company has a market cap of $29.52 billion, a P/E ratio of 14.32, a PEG ratio of 1.15 and a beta of 0.99. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $149.56 and a 200-day moving average of $157.58.

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

Raymond James Financial Dividend Announcement

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

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the business's stock in a transaction on 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 completion of the sale, the insider owned 53,586 shares in the company, valued at $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by insiders.

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.

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