Legal & General Group Plc Sells 117,972 Shares of Raymond James Financial, Inc. $RJF

Legal & General Group Plc trimmed its position in Raymond James Financial, Inc. (NYSE:RJF) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,255,616 shares of the financial services provider’s stock after selling 117,972 shares during the quarter. Legal & General Group Plc owned approximately 0.63% of Raymond James Financial worth $192,574,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Capital Investment Advisors LLC increased its stake in Raymond James Financial by 0.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock worth $1,170,000 after acquiring an additional 68 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Raymond James Financial by 5.5% in the 1st quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 78 shares in the last quarter. Tectonic Advisors LLC increased its position in shares of Raymond James Financial by 2.6% during the 2nd quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 80 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of Raymond James Financial by 4.1% during the 1st quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider’s stock valued at $284,000 after buying an additional 81 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Raymond James Financial by 10.9% in the 2nd quarter. Allworth Financial LP now owns 826 shares of the financial services provider’s stock worth $127,000 after buying an additional 81 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RJF shares. Morgan Stanley increased their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. TD Cowen lifted their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and an average price target of $177.20.

Raymond James Financial Trading Up 1.1%

NYSE:RJF opened at $152.96 on Monday. The firm has a market capitalization of $30.50 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.19 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $164.19 and a 200 day moving average of $160.02. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 earnings per share. On average, research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial 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.