Vaughan Nelson Investment Management L.P. cut its holdings in shares of Raymond James (NYSE:RJF) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 413,143 shares of the financial services provider’s stock after selling 10,807 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.30% of Raymond James worth $30,060,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Prospera Financial Services Inc bought a new stake in Raymond James during the third quarter worth $33,000. Private Advisor Group LLC purchased a new stake in Raymond James in the 2nd quarter valued at about $46,000. Creative Financial Designs Inc. ADV bought a new position in shares of Raymond James during the 2nd quarter worth approximately $64,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Raymond James during the 2nd quarter worth approximately $66,000. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Raymond James by 33.7% in the 2nd quarter. CSat Investment Advisory L.P. now owns 984 shares of the financial services provider’s stock worth $68,000 after buying an additional 248 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.
In other news, Chairman Thomas A. James sold 47,448 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $86.74, for a total transaction of $4,115,639.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul D. Allison sold 4,150 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $78.07, for a total value of $323,990.50. Following the sale, the chief executive officer now directly owns 28,914 shares in the company, valued at $2,257,315.98. The disclosure for this sale can be found here. 10.82% of the stock is owned by insiders.
RJF has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on Raymond James from $91.00 to $93.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Zacks Investment Research cut Raymond James from a “buy” rating to a “hold” rating and set a $79.00 target price on the stock. in a research note on Wednesday, October 7th. Credit Suisse Group increased their price target on shares of Raymond James from $80.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $87.00 to $112.00 in a research report on Tuesday. Finally, TheStreet upgraded shares of Raymond James from a “c+” rating to a “b-” rating in a research note on Friday, September 4th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Raymond James has a consensus rating of “Hold” and a consensus target price of $82.38.
NYSE:RJF opened at $87.71 on Tuesday. The stock’s fifty day moving average price is $78.41 and its two-hundred day moving average price is $72.96. Raymond James has a 1 year low of $54.21 and a 1 year high of $102.45. The company has a market cap of $12.03 billion, a P/E ratio of 14.19 and a beta of 1.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.02.
Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 28th. The financial services provider reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.45. Raymond James had a return on equity of 13.04% and a net margin of 10.75%. On average, analysts expect that Raymond James will post 5.68 earnings per share 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.
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