Rhumbline Advisers Reduces Holdings in Raymond James Financial, Inc. $RJF

Rhumbline Advisers reduced its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,926 shares of the financial services provider’s stock after selling 9,884 shares during the period. Rhumbline Advisers’ holdings in Raymond James Financial were worth $55,355,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its stake in shares of Raymond James Financial by 69.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 100 shares during the last quarter. TCTC Holdings LLC raised its holdings in Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 121 shares during the period. TD Private Client Wealth LLC lifted its position in Raymond James Financial by 47.2% during the second quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 108 shares in the last quarter. South Dakota Investment Council grew its holdings in Raymond James Financial by 300.0% during the second quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 300 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in Raymond James Financial in the second quarter worth about $64,000. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RJF shares. TD Cowen lifted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Morgan Stanley raised their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research note on Thursday, October 9th. Finally, Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $177.20.

Raymond James Financial Trading Down 0.0%

Shares of RJF opened at $152.97 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The company has a 50 day simple moving average of $163.88 and a two-hundred day simple moving average of $160.07. The firm has a market cap of $30.50 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial 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.