Northwest & Ethical Investments L.P. Cuts Stock Holdings in Raymond James (NYSE:RJF)

Northwest & Ethical Investments L.P. lowered its stake in Raymond James (NYSE:RJF) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,019 shares of the financial services provider’s stock after selling 1,683 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Raymond James were worth $982,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RJF. Atria Investments Inc boosted its position in Raymond James by 37.3% during the 1st quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock valued at $4,018,000 after buying an additional 8,507 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Raymond James by 1.5% during 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 purchasing an additional 7,028 shares during the period. XTX Topco Ltd grew its stake in shares of 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 purchasing an additional 6,649 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Raymond James during the 3rd quarter valued at about $3,561,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Raymond James by 105.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after purchasing an additional 15,940 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley boosted 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. Bank of America increased their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.91.

Raymond James Price Performance

Shares of NYSE RJF opened at $169.22 on Friday. The firm has a market cap of $34.53 billion, a P/E ratio of 17.43, a PEG ratio of 0.99 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a twelve month low of $103.41 and a twelve month high of $171.38. The company has a 50 day moving average of $143.71 and a 200 day moving average of $127.10.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts expect that Raymond James will post 10.83 EPS 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.