Hantz Financial Services Inc. Decreases Stake in Raymond James (NYSE:RJF)

Hantz Financial Services Inc. cut its stake in shares of Raymond James (NYSE:RJF) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,517 shares of the financial services provider’s stock after selling 1,597 shares during the quarter. Hantz Financial Services Inc.’s holdings in Raymond James were worth $10,717,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its position in shares of Raymond James by 72.0% in the 1st quarter. Advisors Asset Management Inc. now owns 595 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 249 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Raymond James by 42.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,697 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 1,399 shares in the last quarter. Swedbank AB purchased a new position in Raymond James in the first quarter valued at $630,000. Atria Investments Inc raised its stake in Raymond James by 37.3% in the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock valued at $4,018,000 after buying an additional 8,507 shares in the last quarter. Finally, PGGM Investments purchased a new stake in Raymond James during the 1st quarter worth about $173,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. 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 research report on Tuesday, October 29th. TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have assigned 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 0.7 %

RJF opened at $170.10 on Friday. Raymond James has a 52 week low of $102.42 and a 52 week high of $170.93. The business has a 50 day moving average price of $142.79 and a two-hundred day moving average price of $126.80. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market cap of $34.71 billion, a PE ratio of 17.52, a P/E/G ratio of 0.99 and a beta of 0.99.

Raymond James (NYSE:RJF) last issued 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 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the company earned $2.13 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts anticipate that Raymond James will post 10.83 EPS for the current year.

Raymond James 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.