Raymond James Financial, Inc. (NYSE:RJF) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its holdings in Raymond James Financial by 14.8%, selling 2,575 shares and retaining a total of 14,766 shares valued at approximately $2,051,000.
• Several institutional investors, including Thurston Springer Miller Herd & Titak Inc. and Alpine Bank Wealth Management, have recently acquired new positions in Raymond James Financial, indicating increased interest from the investment community.
• Raymond James Financial reported a quarterly EPS of $2.18, missing estimates, and declared a quarterly dividend of $0.50 per share, reflecting a 1.2% dividend yield.

Mizuho Securities USA LLC lessened its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 14.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,766 shares of the financial services provider's stock after selling 2,575 shares during the period. Mizuho Securities USA LLC's holdings in Raymond James Financial were worth $2,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Victory Capital Management Inc. lifted its position in shares of Raymond James Financial by 1,502.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider's stock worth $261,587,000 after buying an additional 1,765,588 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Raymond James Financial by 25,259.8% during the 1st quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after buying an additional 672,164 shares during the last quarter. Select Equity Group L.P. purchased a new stake in shares of Raymond James Financial during the 4th quarter worth approximately $81,611,000. Vanguard Group Inc. lifted its position in shares of Raymond James Financial by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider's stock worth $3,089,942,000 after buying an additional 347,916 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Raymond James Financial by 18.4% during the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock worth $327,314,000 after buying an additional 327,739 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider directly owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

RJF has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Cowen reiterated a "hold" rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Morgan Stanley upped their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. JMP Securities upped their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Finally, Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research report on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Price Performance

Shares of NYSE:RJF traded up $0.92 on Thursday, reaching $164.76. 906,369 shares of the company were exchanged, compared to its average volume of 1,325,872. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32. The firm has a market cap of $32.85 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The company has a 50-day moving average of $157.46 and a 200-day moving average of $150.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. Raymond James Financial's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 earnings per share. Equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's dividend payout ratio is presently 19.61%.

About Raymond James Financial

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.