Intech Investment Management LLC Buys 11,665 Shares of Raymond James (NYSE:RJF)

Intech Investment Management LLC grew its stake in shares of Raymond James (NYSE:RJF) by 354.5% during the 3rd quarter, Holdings Channel reports. The firm owned 14,956 shares of the financial services provider’s stock after buying an additional 11,665 shares during the period. Intech Investment Management LLC’s holdings in Raymond James were worth $1,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the last quarter. Quarry LP acquired a new position in shares of Raymond James during the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the 3rd quarter valued at about $32,000. Gladius Capital Management LP acquired a new stake in Raymond James in the 3rd quarter valued at about $34,000. Finally, Peterson Financial Group Inc. bought a new position in Raymond James during the third quarter worth about $37,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RJF shares. TD Cowen upped their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Morgan Stanley upped their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Bank of America raised 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, Jefferies Financial Group upped their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $140.91.

Raymond James Stock Performance

NYSE RJF opened at $165.18 on Monday. The firm’s fifty day moving average price is $139.90 and its two-hundred day moving average price is $125.89. The stock has a market cap of $34.02 billion, a PE ratio of 17.01, a PEG ratio of 0.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a fifty-two week low of $102.42 and a fifty-two week high of $165.42.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts expect 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.