Raymond James (NYSE:RJF) Stake Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its holdings in Raymond James (NYSE:RJF) by 51.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,997 shares of the financial services provider’s stock after selling 17,062 shares during the quarter. Edgestream Partners L.P.’s holdings in Raymond James were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its stake in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP bought a new position in Raymond James in the 2nd quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new position in Raymond James during the 3rd quarter valued at about $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James during the 3rd quarter worth about $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James in the 3rd quarter worth approximately $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Trading Down 1.4 %

NYSE RJF opened at $166.98 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.00 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. The firm’s fifty day simple moving average is $144.61 and its 200-day simple moving average is $127.40. The company has a market capitalization of $34.07 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.99 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

RJF has been the subject of a number of research reports. Bank of America increased their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JMP Securities upped their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, TD Cowen upped their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.