MetLife Investment Management LLC Lowers Holdings in Raymond James (NYSE:RJF)

MetLife Investment Management LLC reduced its position in shares of Raymond James (NYSE:RJF) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,258 shares of the financial services provider’s stock after selling 1,541 shares during the period. MetLife Investment Management LLC’s holdings in Raymond James were worth $5,910,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. grew its position in Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after buying an additional 7,028 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Raymond James by 390.7% during the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 6,649 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Raymond James in the third quarter worth approximately $3,561,000. Wealth Enhancement Advisory Services LLC raised its stake in Raymond James by 105.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after purchasing an additional 15,940 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Raymond James by 529.4% during the first quarter. Cetera Investment Advisers now owns 21,656 shares of the financial services provider’s stock valued at $2,781,000 after purchasing an additional 18,215 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RJF. JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America upped their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised 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. Finally, Morgan Stanley upped their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Raymond James has an average rating of “Hold” and a consensus price target of $140.91.

Raymond James Price Performance

RJF stock opened at $169.28 on Friday. The stock has a market capitalization of $34.54 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.99 and a beta of 0.99. The firm’s 50-day moving average price is $144.61 and its two-hundred day moving average price is $127.40. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. Raymond James has a 12-month low of $103.41 and a 12-month high of $171.38.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. Raymond James’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. As a group, equities analysts predict that Raymond James will post 10.83 earnings per share 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.