Raymond James (NYSE:RJF) Stake Cut by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in shares of Raymond James (NYSE:RJF) by 59.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,713 shares of the financial services provider’s stock after selling 12,663 shares during the period. Glenmede Trust Co. NA’s holdings in Raymond James were worth $1,067,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. AGF Management Ltd. raised its holdings in shares of Raymond James by 17.2% during the second 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. Earnest Partners LLC increased its position in Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after purchasing an additional 37,173 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Raymond James by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock worth $273,919,000 after purchasing an additional 25,494 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 valued at $250,238,000 after buying an additional 113,826 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in shares of Raymond James by 2.1% in the 2nd quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock valued at $216,153,000 after buying an additional 38,695 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of Raymond James stock opened at $166.98 on Tuesday. The stock has a market capitalization of $34.07 billion, a price-to-earnings ratio of 17.20, a P/E/G 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 1-year low of $104.24 and a 1-year high of $171.38.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $2.13 EPS. On average, equities analysts predict that Raymond James will post 10.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. JMP Securities lifted 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 note on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. TD Cowen boosted their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average target price of $140.91.

Raymond James Company 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.