First Horizon Advisors Inc. Trims Stock Position in Raymond James (NYSE:RJF)

First Horizon Advisors Inc. reduced its stake in Raymond James (NYSE:RJF) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,276 shares of the financial services provider’s stock after selling 104 shares during the quarter. First Horizon Advisors Inc.’s holdings in Raymond James were worth $156,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RJF. Connor Clark & Lunn Investment Management Ltd. grew its position in Raymond James by 74.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,394 shares of the financial services provider’s stock valued at $8,131,000 after buying an additional 28,320 shares during the last quarter. Commerce Bank boosted its holdings in shares of Raymond James by 6.7% in the third quarter. Commerce Bank now owns 10,445 shares of the financial services provider’s stock valued at $1,279,000 after acquiring an additional 658 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Raymond James by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 106,391 shares of the financial services provider’s stock worth $13,029,000 after acquiring an additional 3,150 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Raymond James during the third quarter worth about $1,587,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Raymond James in the third quarter valued at about $3,561,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RJF shares. JMP Securities boosted their target price on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Bank of America increased their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen increased their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James Stock Up 0.9 %

RJF stock opened at $165.18 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 12 month low of $102.42 and a 12 month high of $165.42. The firm has a market capitalization of $34.02 billion, a PE ratio of 17.01, a P/E/G ratio of 0.96 and a beta of 0.99. The company’s 50 day simple moving average is $139.90 and its 200-day simple moving average is $125.89.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share 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 company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the business posted $2.13 earnings per share. Raymond James’s revenue was up 13.4% compared to the same quarter last year. Equities analysts expect that Raymond James will post 10.83 earnings per share for the current fiscal year.

Raymond James Company 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.