Fmr LLC Cuts Position in Raymond James (NYSE:RJF)

Fmr LLC cut its stake in Raymond James (NYSE:RJF) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,384,748 shares of the financial services provider’s stock after selling 142,323 shares during the period. Fmr LLC owned about 3.10% of Raymond James worth $781,876,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RJF. Advisors Asset Management Inc. lifted its stake in Raymond James by 72.0% in the first quarter. Advisors Asset Management Inc. now owns 595 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 249 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Raymond James by 42.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,697 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 1,399 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Raymond James by 36.1% in the first quarter. iA Global Asset Management Inc. now owns 11,798 shares of the financial services provider’s stock worth $1,515,000 after purchasing an additional 3,129 shares during the last quarter. Swedbank AB bought a new position in shares of Raymond James during the first quarter valued at about $630,000. Finally, Atria Investments Inc raised its stake in shares of Raymond James by 37.3% during the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock valued at $4,018,000 after acquiring an additional 8,507 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RJF has been the subject of several recent analyst reports. JMP Securities upped their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Bank of America increased their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group increased their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley upped their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Trading Up 0.7 %

NYSE:RJF opened at $170.13 on Thursday. The company’s 50 day moving average price is $141.81 and its 200-day moving average price is $126.49. Raymond James has a 52 week low of $102.42 and a 52 week high of $170.93. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market cap of $35.04 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.98 and a beta of 0.99.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Raymond James will post 10.83 earnings per share for the current fiscal year.

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.