Earnest Partners LLC lifted its stake in shares of Raymond James (NYSE:RJF) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,828,540 shares of the financial services provider’s stock after buying an additional 18,070 shares during the quarter. Raymond James comprises about 1.4% of Earnest Partners LLC’s portfolio, making the stock its 10th largest holding. Earnest Partners LLC’s holdings in Raymond James were worth $154,603,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Raymond James by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 2,527,322 shares of the financial services provider’s stock worth $208,503,000 after purchasing an additional 69,935 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Raymond James by 27.9% during the first quarter. Primecap Management Co. CA now owns 2,039,950 shares of the financial services provider’s stock worth $164,032,000 after purchasing an additional 445,300 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Raymond James by 10.9% during the second quarter. Bank of New York Mellon Corp now owns 1,787,923 shares of the financial services provider’s stock worth $151,170,000 after purchasing an additional 175,088 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Raymond James by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 1,643,101 shares of the financial services provider’s stock worth $122,040,000 after purchasing an additional 102,797 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Raymond James by 1.7% during the second quarter. Northern Trust Corp now owns 1,495,150 shares of the financial services provider’s stock worth $126,414,000 after purchasing an additional 24,761 shares during the last quarter. Institutional investors and hedge funds own 70.85% of the company’s stock.
In other Raymond James news, EVP Jonathan N. Santelli sold 1,200 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $84.80, for a total value of $101,760.00. Following the completion of the transaction, the executive vice president now owns 1,078 shares in the company, valued at $91,414.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey P. Julien sold 15,756 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $78.59, for a total value of $1,238,264.04. Following the completion of the transaction, the chief financial officer now owns 39,592 shares of the company’s stock, valued at approximately $3,111,535.28. The disclosure for this sale can be found here. Corporate insiders own 10.74% of the company’s stock.
Several equities research analysts have recently commented on the company. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Citigroup set a $87.00 price objective on Raymond James and gave the stock a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $93.88.
NYSE:RJF opened at $87.52 on Friday. The stock has a fifty day moving average price of $78.55 and a two-hundred day moving average price of $82.99. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 13.53 and a beta of 1.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.11. Raymond James has a 1 year low of $69.11 and a 1 year high of $96.76.
Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($0.06). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Raymond James had a return on equity of 16.12% and a net margin of 13.06%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 EPS. On average, analysts predict that Raymond James will post 7.4 EPS for the current year.
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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