Prudential Financial Inc. reduced its stake in Raymond James (NYSE:RJF) by 19.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,772 shares of the financial services provider’s stock after selling 35,490 shares during the period. Prudential Financial Inc. owned about 0.10% of Raymond James worth $13,142,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Rehmann Capital Advisory Group boosted its stake in shares of Raymond James by 57.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 530 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Raymond James by 0.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 153,879 shares of the financial services provider’s stock valued at $13,749,000 after purchasing an additional 566 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Raymond James by 5.2% in the 2nd quarter. CIBC Asset Management Inc now owns 13,287 shares of the financial services provider’s stock valued at $1,187,000 after purchasing an additional 658 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Raymond James by 59.9% in the 3rd quarter. CENTRAL TRUST Co now owns 1,868 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 700 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in shares of Raymond James by 1.8% in the 3rd quarter. State Treasurer State of Michigan now owns 39,100 shares of the financial services provider’s stock valued at $3,599,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.
Shares of NYSE RJF opened at $79.73 on Friday. The company has a market capitalization of $11.42 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 0.63 and a beta of 1.74. Raymond James has a 1 year low of $71.93 and a 1 year high of $102.17. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.13 and a quick ratio of 1.10.
Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.13). The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Raymond James had a net margin of 11.46% and a return on equity of 15.72%. Analysts forecast that Raymond James will post 7.48 earnings per share for the current fiscal year.
In other Raymond James news, President John C. Jr. Carson sold 5,698 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $92.66, for a total transaction of $527,976.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn purchased 1,500 shares of the stock in a transaction on Monday, October 29th. The shares were purchased at an average price of $73.75 per share, with a total value of $110,625.00. Following the acquisition, the insider now owns 12,055 shares in the company, valued at approximately $889,056.25. The disclosure for this purchase can be found here. 10.46% of the stock is owned by company insiders.
A number of brokerages recently issued reports on RJF. Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Wednesday. Buckingham Research dropped their price objective on shares of Raymond James from $117.00 to $111.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Wolfe Research began coverage on shares of Raymond James in a report on Tuesday, September 25th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $100.63.
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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.
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