Mizuho Securities USA LLC Has $6.92 Million Stock Position in Raymond James (NYSE:RJF)

Mizuho Securities USA LLC boosted its stake in shares of Raymond James (NYSE:RJF) by 292.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,471 shares of the financial services provider’s stock after purchasing an additional 42,084 shares during the quarter. Mizuho Securities USA LLC’s holdings in Raymond James were worth $6,915,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its position in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP acquired a new position in Raymond James in the 2nd quarter worth approximately $29,000. Covestor Ltd grew its position in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the 3rd quarter valued at $32,000. Finally, Rothschild Investment LLC acquired a new stake in Raymond James during the 2nd quarter valued at $62,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen raised their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company upped their target price on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America raised their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $140.91.

Raymond James Stock Performance

RJF stock opened at $160.68 on Friday. The firm has a 50 day moving average of $135.23 and a two-hundred day moving average of $124.52. Raymond James has a 12 month low of $102.42 and a 12 month high of $163.45. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.81 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the company posted $2.13 earnings per share. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

Raymond James Company 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.