Mizuho Securities USA LLC Increases Stake in Raymond James (NYSE:RJF)

Mizuho Securities USA LLC grew its position in Raymond James (NYSE:RJF) by 44.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,341 shares of the financial services provider’s stock after purchasing an additional 5,322 shares during the quarter. Mizuho Securities USA LLC’s holdings in Raymond James were worth $2,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Raymond James in the fourth quarter worth $105,701,000. JPMorgan Chase & Co. lifted its holdings in shares of Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Raymond James by 433.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock worth $88,144,000 after buying an additional 461,069 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in Raymond James during the 3rd quarter valued at about $34,105,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of NYSE RJF opened at $145.03 on Tuesday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market cap of $29.72 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The firm has a fifty day moving average price of $156.57 and a 200-day moving average price of $149.91.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is currently 19.51%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Bank of America increased their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Citigroup upped their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Nine research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $167.55.

About Raymond James

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.