Geneva Capital Management LLC decreased its holdings in Raymond James (NYSE:RJF - Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,287 shares of the financial services provider's stock after selling 3,931 shares during the period. Geneva Capital Management LLC owned about 0.05% of Raymond James worth $13,261,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Wolff Wiese Magana LLC grew its stake in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP purchased a new stake in shares of Raymond James during the second quarter worth approximately $29,000. Covestor Ltd grew its holdings in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider's stock worth $31,000 after acquiring an additional 104 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Raymond James during the 3rd quarter worth about $32,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Raymond James during the 2nd quarter worth about $62,000. Hedge funds and other institutional investors own 83.83% of the company's stock.
Several equities analysts have commented on RJF shares. Morgan Stanley increased their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their target price on shares of Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their target price on Raymond James from $140.00 to $152.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Raymond James currently has an average rating of "Hold" and a consensus price target of $140.91.
View Our Latest Research Report on Raymond James
Raymond James stock opened at $162.27 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The business has a fifty day moving average of $132.64 and a two-hundred day moving average of $123.73. Raymond James has a one year low of $99.06 and a one year high of $163.39. The company has a market cap of $33.42 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99.
Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. Raymond James's revenue was up 13.4% on a year-over-year basis. As a group, analysts predict that Raymond James will post 10.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Tuesday, October 1st. Raymond James's payout ratio is currently 18.54%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Raymond James, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Raymond James wasn't on the list.
While Raymond James currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.