Raymond James (NYSE:RJF) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its position in shares of Raymond James (NYSE:RJF) by 0.9% in the third quarter, Holdings Channel.com reports. The firm owned 11,976,412 shares of the financial services provider’s stock after selling 109,170 shares during the period. Raymond James comprises approximately 1.1% of Primecap Management Co. CA’s investment portfolio, making the stock its 25th largest position. Primecap Management Co. CA owned about 0.06% of Raymond James worth $1,466,631,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RJF. Bessemer Group Inc. lifted its position in shares of Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after buying an additional 17,499 shares during the last quarter. Atria Investments Inc lifted its position in shares of Raymond James by 37.3% in the 1st quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after buying an additional 8,507 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Raymond James by 1.5% in the 3rd 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 during the last quarter. XTX Topco Ltd lifted its position in shares of Raymond James by 390.7% in the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 6,649 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Raymond James by 105.7% in the 2nd 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 during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on RJF. Wells Fargo & Company lifted their price objective on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of 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 lifted their price objective 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. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their price objective 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. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $140.91.

Raymond James Stock Performance

Shares of RJF opened at $162.18 on Thursday. The firm’s 50 day moving average is $138.02 and its 200-day moving average is $125.34. The stock has a market capitalization of $33.40 billion, a P/E ratio of 16.70, a P/E/G ratio of 0.95 and a beta of 0.99. 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 $164.33.

Raymond James (NYSE:RJF) last announced 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. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 EPS. Equities research analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal 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.