Vanguard Group Inc. Has $3.40 Billion Stock Holdings in Raymond James Financial, Inc. $RJF

Vanguard Group Inc. reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,198,694 shares of the financial services provider’s stock after selling 45,510 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Raymond James Financial worth $3,404,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its holdings in shares of Raymond James Financial by 5.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 64,434 shares of the financial services provider’s stock valued at $9,882,000 after acquiring an additional 3,363 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in Raymond James Financial in the 2nd quarter valued at $444,000. Ontario Teachers Pension Plan Board increased its stake in Raymond James Financial by 179.4% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 5,560 shares of the financial services provider’s stock valued at $853,000 after purchasing an additional 3,570 shares in the last quarter. Cetera Investment Advisers raised its holdings in Raymond James Financial by 10.0% during the second quarter. Cetera Investment Advisers now owns 31,566 shares of the financial services provider’s stock worth $4,841,000 after buying an additional 2,867 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Raymond James Financial by 8.9% in the second quarter. Creative Planning now owns 44,412 shares of the financial services provider’s stock valued at $6,812,000 after buying an additional 3,646 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Thursday, October 23rd. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Finally, BMO Capital Markets upped their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Trading Down 4.1%

NYSE:RJF opened at $151.25 on Friday. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The firm has a 50-day moving average price of $164.54 and a two-hundred day moving average price of $159.69. The firm has a market cap of $30.16 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.28. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.Raymond James Financial’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. On average, equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial 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.