Russell Investments Group Ltd. Lowers Stake in Raymond James (NYSE:RJF)

Russell Investments Group Ltd. lowered its stake in shares of Raymond James (NYSE:RJF) by 24.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,857 shares of the financial services provider’s stock after selling 63,958 shares during the period. Russell Investments Group Ltd. owned 0.09% of Raymond James worth $20,426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RJF. Wellington Management Group LLP lifted its holdings in Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock worth $618,780,000 after buying an additional 2,510,966 shares during the period. Norges Bank purchased a new stake in Raymond James during the fourth quarter worth $206,765,000. FMR LLC lifted its holdings in Raymond James by 19.4% during the first quarter. FMR LLC now owns 9,993,550 shares of the financial services provider’s stock worth $932,098,000 after buying an additional 1,625,771 shares during the period. JPMorgan Chase & Co. increased its position in shares of Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock worth $641,330,000 after purchasing an additional 1,448,047 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Raymond James by 214.5% during the first quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock worth $106,474,000 after purchasing an additional 778,644 shares in the last quarter. Hedge funds and other institutional investors own 75.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RJF. Morgan Stanley reduced their price target on Raymond James from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, October 30th. JPMorgan Chase & Co. began coverage on Raymond James in a research report on Tuesday, September 19th. They set a “neutral” rating and a $121.00 price target on the stock. StockNews.com began coverage on Raymond James in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group reduced their price target on Raymond James from $128.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, October 10th. Finally, Bank of America began coverage on Raymond James in a research report on Monday, September 11th. They set a “buy” rating and a $122.00 price target on the stock. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $118.67.

Insider Buying and Selling at Raymond James

In other news, COO Jeffrey A. Dowdle sold 8,044 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $99.41, for a total value of $799,654.04. Following the completion of the sale, the chief operating officer now directly owns 40,270 shares of the company’s stock, valued at $4,003,240.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.46% of the stock is currently owned by insiders.

Raymond James Stock Down 0.4 %

RJF stock opened at $103.90 on Tuesday. The firm has a market cap of $21.70 billion, a PE ratio of 13.05, a PEG ratio of 0.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 0.97. Raymond James has a one year low of $82.00 and a one year high of $124.63. The firm’s 50 day moving average price is $100.35 and its 200-day moving average price is $100.56.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $2.13 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.15). The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.99 billion. Raymond James had a return on equity of 18.48% and a net margin of 13.39%. On average, equities research analysts anticipate that Raymond James will post 9.06 EPS for the current 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.