Raymond James (NYSE:RJF) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its stake in Raymond James (NYSE:RJF) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,276 shares of the financial services provider’s stock after selling 104 shares during the period. First Horizon Advisors Inc.’s holdings in Raymond James were worth $156,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Ceredex Value Advisors LLC boosted its holdings in Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after acquiring an additional 474,443 shares during the period. AGF Management Ltd. increased its stake in Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Raymond James by 34.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock worth $60,462,000 after purchasing an additional 126,437 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Raymond James by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after purchasing an additional 113,826 shares during the period. Finally, KBC Group NV grew its holdings in shares of Raymond James by 28.2% in the third quarter. KBC Group NV now owns 412,951 shares of the financial services provider’s stock valued at $50,570,000 after purchasing an additional 90,845 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target 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. The Goldman Sachs Group boosted their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Bank of America lifted their price objective on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, JMP Securities upped their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $140.91.

Raymond James Price Performance

Shares of NYSE:RJF opened at $165.18 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 12 month low of $102.42 and a 12 month high of $165.42. The firm has a market capitalization of $34.02 billion, a P/E ratio of 17.01, a P/E/G ratio of 0.96 and a beta of 0.99. The company’s fifty day moving average price is $139.90 and its 200 day moving average price is $125.89.

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

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.