Mizuho Bank Ltd. Buys Shares of 340 Raymond James (NYSE:RJF)

Mizuho Bank Ltd. purchased a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, HoldingsChannel reports. The firm purchased 340 shares of the financial services provider’s stock, valued at approximately $53,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RJF. Wellington Management Group LLP raised its stake in shares of 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 valued at $1,483,542,000 after acquiring an additional 2,898,242 shares during the period. Norges Bank acquired a new stake in Raymond James in the 4th quarter valued at approximately $294,647,000. Raymond James Financial Inc. purchased a new stake in Raymond James in the fourth quarter valued at approximately $105,701,000. JPMorgan Chase & Co. lifted its stake in 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 worth $556,533,000 after purchasing an additional 488,245 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Raymond James by 433.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock worth $88,144,000 after purchasing an additional 461,069 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RJF. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price objective on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley boosted their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods increased their price target on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $164.64.

Raymond James Trading Down 5.2 %

NYSE:RJF opened at $123.51 on Friday. The company has a market capitalization of $25.31 billion, a PE ratio of 12.05, a P/E/G ratio of 0.90 and a beta of 0.94. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The stock’s 50 day moving average price is $151.43 and its 200 day moving average price is $150.78. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, research analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.62%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Raymond James 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.