Rhumbline Advisers Increases Stock Position in Raymond James (NYSE:RJF)

Rhumbline Advisers raised its stake in shares of Raymond James (NYSE:RJFGet Rating) by 17.0% during the second quarter, HoldingsChannel reports. The fund owned 346,125 shares of the financial services provider’s stock after acquiring an additional 50,395 shares during the quarter. Rhumbline Advisers’ holdings in Raymond James were worth $30,947,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RJF. Zions Bancorporation N.A. boosted its stake in Raymond James by 222.5% during the 2nd quarter. Zions Bancorporation N.A. now owns 287 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 198 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Raymond James by 365.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 298 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 234 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of Raymond James by 334.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 382 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 294 shares during the period. Covestor Ltd increased its holdings in shares of Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 138 shares during the period. Finally, Clear Street Markets LLC increased its stake in Raymond James by 434.2% during the 2nd quarter. Clear Street Markets LLC now owns 406 shares of the financial services provider’s stock valued at $36,000 after buying an additional 330 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 4,000 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $106.75, for a total transaction of $427,000.00. Following the transaction, the insider now owns 21,096 shares in the company, valued at approximately $2,251,998. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.25% of the company’s stock.

Raymond James Stock Down 2.6 %

RJF stock opened at $120.37 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a market capitalization of $25.98 billion, a price-to-earnings ratio of 17.24 and a beta of 1.07. The business’s fifty day moving average price is $110.58 and its two-hundred day moving average price is $101.93. Raymond James has a fifty-two week low of $84.86 and a fifty-two week high of $126.00.

Raymond James (NYSE:RJFGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.08. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Raymond James had a return on equity of 17.90% and a net margin of 13.35%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 EPS. On average, equities analysts anticipate that Raymond James will post 9.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Raymond James from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 31st. Citigroup started coverage on shares of Raymond James in a research note on Tuesday, October 11th. They set a “neutral” rating and a $117.00 price target on the stock. Jefferies Financial Group boosted their target price on shares of Raymond James from $108.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, August 26th. Finally, UBS Group assumed coverage on Raymond James in a report on Tuesday. They set a “neutral” rating and a $127.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Raymond James presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

Raymond James Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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