Daiwa Securities Group Inc. Boosts Stake in Raymond James (NYSE:RJF)

Daiwa Securities Group Inc. boosted its holdings in shares of Raymond James (NYSE:RJF) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,550 shares of the financial services provider’s stock after acquiring an additional 2,349 shares during the period. Daiwa Securities Group Inc.’s holdings in Raymond James were worth $2,884,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. increased its holdings in shares of Raymond James by 72.0% during the 1st quarter. Advisors Asset Management Inc. now owns 595 shares of the financial services provider’s stock worth $76,000 after buying an additional 249 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Raymond James by 42.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,697 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 1,399 shares during the last quarter. iA Global Asset Management Inc. increased its position in shares of Raymond James by 36.1% during the 1st quarter. iA Global Asset Management Inc. now owns 11,798 shares of the financial services provider’s stock worth $1,515,000 after purchasing an additional 3,129 shares during the last quarter. Swedbank AB purchased a new stake in Raymond James in the 1st quarter valued at about $630,000. Finally, Atria Investments Inc boosted its stake in Raymond James by 37.3% during the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after buying an additional 8,507 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JMP Securities boosted their price target 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. Wells Fargo & Company boosted their target price on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America increased their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price target on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Stock Up 0.7 %

Shares of NYSE RJF opened at $170.13 on Thursday. The business has a 50-day moving average of $141.81 and a two-hundred day moving average of $126.49. 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 company has a market capitalization of $35.04 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. Raymond James has a 1 year low of $102.42 and a 1 year high of $170.93.

Raymond James (NYSE:RJF) last issued its 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 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%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. On average, analysts forecast that Raymond James will post 10.83 earnings per share for the current fiscal 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.