Bank of Montreal Can Raises Stock Position in Raymond James (NYSE:RJF)

Bank of Montreal Can increased its stake in Raymond James (NYSE:RJF) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 275,189 shares of the financial services provider’s stock after acquiring an additional 9,378 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of Raymond James worth $33,700,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Ceredex Value Advisors LLC increased its holdings in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after acquiring an additional 474,443 shares in the last quarter. AGF Management Ltd. increased its holdings in Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Raymond James by 34.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock worth $60,462,000 after purchasing an additional 126,437 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Raymond James by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after purchasing an additional 113,826 shares during the last quarter. Finally, KBC Group NV boosted its stake in Raymond James by 28.2% during the 3rd quarter. KBC Group NV now owns 412,951 shares of the financial services provider’s stock worth $50,570,000 after purchasing an additional 90,845 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 0.7 %

NYSE RJF opened at $170.10 on Friday. The firm’s 50-day moving average is $142.79 and its two-hundred day moving average is $126.80. Raymond James has a 12 month low of $102.42 and a 12 month high of $170.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $35.03 billion, a P/E ratio of 17.52, a PEG ratio of 0.98 and a beta of 0.99.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Raymond James will post 10.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

RJF has been the topic of several recent research reports. JMP Securities lifted their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Morgan Stanley lifted their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America lifted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price target 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. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $140.91.

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.