Massachusetts Financial Services Co. MA Sells 59,557 Shares of Raymond James (NYSE:RJF)

Massachusetts Financial Services Co. MA reduced its holdings in Raymond James (NYSE:RJF) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,156,439 shares of the financial services provider’s stock after selling 59,557 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Raymond James were worth $264,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. AGF Management Ltd. raised its stake in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after purchasing an additional 378,033 shares during the last quarter. Earnest Partners LLC raised its position in shares of Raymond James by 1.5% during the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after buying an additional 37,173 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Raymond James by 6.0% in the second 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 period. APG Asset Management N.V. grew its position in Raymond James by 2.1% during the second quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock worth $216,153,000 after buying an additional 38,695 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Raymond James by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 1,320,253 shares of the financial services provider’s stock valued at $163,197,000 after acquiring an additional 9,485 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Performance

RJF stock opened at $165.18 on Friday. The company has a 50 day moving average price of $139.90 and a 200 day moving average price of $125.88. Raymond James has a fifty-two week low of $102.42 and a fifty-two week high of $165.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $34.02 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99.

Raymond James (NYSE:RJF) last posted its quarterly earnings results 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. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.13 earnings per share. Analysts forecast that Raymond James will post 10.83 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Cowen raised their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JMP Securities upped their target price 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. Finally, The Goldman Sachs Group raised their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $140.91.

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.