Primecap Management Co. CA Decreases Stock Holdings in Raymond James (NYSE:RJF)

Primecap Management Co. CA lowered its position in shares of Raymond James (NYSE:RJF) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,976,412 shares of the financial services provider’s stock after selling 109,170 shares during the period. Raymond James makes up approximately 1.1% of Primecap Management Co. CA’s portfolio, making the stock its 25th largest position. Primecap Management Co. CA owned about 5.82% of Raymond James worth $1,466,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Metis Global Partners LLC increased its holdings in Raymond James by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 82 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 86 shares in the last quarter. Portside Wealth Group LLC grew its stake in shares of Raymond James by 3.9% in the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC grew its stake in shares of Raymond James by 1.6% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 96 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Down 0.3 %

Shares of NYSE RJF opened at $162.18 on Thursday. Raymond James has a 12-month low of $102.42 and a 12-month high of $164.33. The company has a market capitalization of $33.40 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 0.95 and a beta of 0.99. 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 firm’s 50-day moving average is $138.02 and its two-hundred day moving average is $125.34.

Raymond James (NYSE:RJF) last announced its quarterly 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 company had revenue of $3.46 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Equities analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on RJF. Jefferies Financial Group lifted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company upped their target price on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $140.91.

Raymond James 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.