Northwest & Ethical Investments L.P. Lowers Stake in Raymond James (NYSE:RJF)

Northwest & Ethical Investments L.P. cut its position in Raymond James (NYSE:RJF) by 17.3% in the third quarter, HoldingsChannel.com reports. The firm owned 8,019 shares of the financial services provider’s stock after selling 1,683 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Raymond James were worth $982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the period. Quarry LP bought a new stake in Raymond James during the 2nd quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 3rd quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in Raymond James in the 3rd quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter valued at approximately $37,000. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their target price 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. TD Cowen increased their price objective 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. Jefferies Financial Group raised their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Bank of America boosted 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. Finally, JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $140.91.

Raymond James Stock Down 0.5 %

Shares of RJF opened at $169.22 on Friday. 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 business has a fifty day moving average of $143.71 and a 200 day moving average of $127.10. The company has a market cap of $34.53 billion, a PE ratio of 17.43, a P/E/G ratio of 0.99 and a beta of 0.99. Raymond James has a 52-week low of $103.41 and a 52-week high of $171.38.

Raymond James (NYSE:RJF) last released its earnings results 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. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $2.13 EPS. On average, sell-side analysts expect that Raymond James will post 10.83 EPS for the current year.

About Raymond James

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.