FORA Capital LLC Reduces Stock Position in Raymond James (NYSE:RJF)

FORA Capital LLC lowered its stake in Raymond James (NYSE:RJF) by 29.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,212 shares of the financial services provider’s stock after selling 5,060 shares during the period. FORA Capital LLC’s holdings in Raymond James were worth $1,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Atria Investments Inc raised its position in Raymond James by 37.3% in the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after acquiring an additional 8,507 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after acquiring an additional 7,028 shares during the period. XTX Topco Ltd raised its position in Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 6,649 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Raymond James by 105.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock worth $3,834,000 after acquiring an additional 15,940 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Raymond James in the third quarter worth approximately $3,561,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on RJF. JMP Securities increased their price target on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research 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 company a “hold” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Morgan Stanley raised their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.91.

Raymond James Stock Performance

RJF opened at $170.13 on Thursday. The stock has a market capitalization of $35.04 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.98 and a beta of 0.99. The company has a fifty day moving average of $141.81 and a 200 day moving average of $126.49. Raymond James has a fifty-two week low of $102.42 and a fifty-two week high of $170.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company posted $2.13 earnings per share. As a group, sell-side analysts forecast that Raymond James will post 10.83 earnings per share for the current fiscal year.

About Raymond James

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.