Intech Investment Management LLC Has $1.39 Million Position in Raymond James Financial, Inc. $RJF

Intech Investment Management LLC lowered its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 47.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,030 shares of the financial services provider’s stock after selling 8,130 shares during the quarter. Intech Investment Management LLC’s holdings in Raymond James Financial were worth $1,385,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Raymond James Financial in the first quarter worth $111,368,000. Goldman Sachs Group Inc. raised its holdings in Raymond James Financial by 44.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock worth $237,305,000 after acquiring an additional 525,134 shares during the period. Invesco Ltd. lifted its position in Raymond James Financial by 19.1% during the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after acquiring an additional 466,129 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Raymond James Financial by 165.9% during the first quarter. Ameriprise Financial Inc. now owns 686,647 shares of the financial services provider’s stock valued at $95,381,000 after acquiring an additional 428,396 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Raymond James Financial by 1.6% in the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock valued at $3,089,942,000 after purchasing an additional 347,916 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RJF. Morgan Stanley boosted their price objective on Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods upped their price target on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Finally, TD Cowen increased their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $177.20.

Raymond James Financial Price Performance

Shares of NYSE:RJF opened at $152.96 on Monday. The firm has a market capitalization of $30.50 billion, a PE ratio of 14.86, a PEG ratio of 1.19 and a beta of 1.05. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The business’s 50 day moving average is $164.19 and its 200-day moving average is $160.02.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the company posted $2.95 earnings per share. Raymond James Financial’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

About Raymond James Financial

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.