Mizuho Asset Management Co. Ltd. increased its stake in Raymond James Financial Inc. (NYSE:RJF) by 148.0% during the second quarter, Holdings Channel reports. The firm owned 2,026 shares of the company’s stock after buying an additional 1,209 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Raymond James Financial were worth $100,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Creative Planning increased its position in shares of Raymond James Financial by 4.6% in the second quarter. Creative Planning now owns 3,378 shares of the company’s stock valued at $167,000 after buying an additional 149 shares during the last quarter. Strs Ohio boosted its stake in Raymond James Financial by 44.8% in the second quarter. Strs Ohio now owns 3,560 shares of the company’s stock valued at $175,000 after buying an additional 1,101 shares during the period. Equity Investment Corp GA purchased a new stake in Raymond James Financial during the second quarter valued at approximately $201,000. Commonwealth Equity Services Inc purchased a new stake in Raymond James Financial during the second quarter valued at approximately $204,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in Raymond James Financial during the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 70.38% of the company’s stock.
Raymond James Financial Inc. (NYSE:RJF) traded up 1.04% on Friday, reaching $57.24. The company’s stock had a trading volume of 47,335 shares. The stock’s 50 day moving average price is $57.10 and its 200 day moving average price is $52.70. Raymond James Financial Inc. has a 12 month low of $39.84 and a 12 month high of $59.81. The company has a market cap of $8.08 billion, a P/E ratio of 17.09 and a beta of 1.50.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. Raymond James Financial had a return on equity of 10.20% and a net margin of 9.02%. The firm earned $1.36 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business posted $0.91 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Raymond James Financial Inc. will post $3.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.20 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. Raymond James Financial’s dividend payout ratio is presently 23.88%.
Several equities research analysts have recently commented on RJF shares. Nomura reissued a “hold” rating on shares of Raymond James Financial in a research note on Monday, July 11th. Zacks Investment Research raised Raymond James Financial from a “sell” rating to a “hold” rating in a research note on Thursday, August 18th. Credit Suisse Group AG set a $56.00 target price on Raymond James Financial and gave the company a “buy” rating in a research note on Wednesday, July 20th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Raymond James Financial in a research note on Thursday, September 22nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.89.
In other news, insider George Catanese sold 4,158 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $53.89, for a total value of $224,074.62. Following the completion of the sale, the insider now directly owns 8,739 shares in the company, valued at approximately $470,944.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 3,791 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $56.72, for a total value of $215,025.52. Following the completion of the sale, the insider now owns 12,434 shares of the company’s stock, valued at $705,256.48. The disclosure for this sale can be found here. 11.21% of the stock is owned by insiders.
About Raymond James Financial
Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.
Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial Inc. (NYSE:RJF).
Receive News & Ratings for Raymond James Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.