BlackRock Inc. Acquires 22,853 Shares of Raymond James (RJF)

BlackRock Inc. increased its holdings in shares of Raymond James (NYSE:RJF) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,551,001 shares of the financial services provider’s stock after purchasing an additional 22,853 shares during the period. BlackRock Inc. owned 5.86% of Raymond James worth $787,118,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its holdings in shares of Raymond James by 9.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 30,296 shares of the financial services provider’s stock valued at $2,789,000 after purchasing an additional 2,609 shares in the last quarter. Blueport Capital L.P. increased its holdings in shares of Raymond James by 110.3% in the 3rd quarter. Blueport Capital L.P. now owns 9,347 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 4,903 shares in the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of Raymond James by 175.4% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 4,151 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 2,644 shares in the last quarter. Norinchukin Bank The increased its holdings in shares of Raymond James by 15.0% in the 3rd quarter. Norinchukin Bank The now owns 9,299 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 1,214 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Raymond James by 86.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,405 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 651 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

NYSE:RJF opened at $79.73 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.42. Raymond James has a twelve month low of $71.93 and a twelve month high of $102.17. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 0.63 and a beta of 1.74.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by ($0.13). Raymond James had a net margin of 11.46% and a return on equity of 15.72%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. On average, research analysts forecast that Raymond James will post 7.48 EPS for the current year.

In other Raymond James news, insider Tashtego S. Elwyn bought 1,500 shares of the company’s stock in a transaction on Monday, October 29th. The stock was purchased at an average cost of $73.75 per share, for a total transaction of $110,625.00. Following the acquisition, the insider now owns 12,055 shares of the company’s stock, valued at approximately $889,056.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President John C. Jr. Carson sold 5,698 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $92.66, for a total transaction of $527,976.68. The disclosure for this sale can be found here. Company insiders own 10.46% of the company’s stock.

A number of brokerages have recently issued reports on RJF. Buckingham Research cut their price target 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. Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Wells Fargo & Co cut their price target on shares of Raymond James from $111.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Goldman Sachs Group began coverage on shares of Raymond James in a report on Tuesday, November 27th. They issued a “neutral” rating and a $85.00 price target for the company. 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock has an average 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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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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