Cerity Partners LLC Acquires 406 Shares of Raymond James (NYSE:RJF)

Cerity Partners LLC boosted its position in shares of Raymond James (NYSE:RJFGet Rating) by 17.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,787 shares of the financial services provider’s stock after buying an additional 406 shares during the quarter. Cerity Partners LLC’s holdings in Raymond James were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RJF. Wellington Management Group LLP increased its stake in Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after acquiring an additional 2,510,966 shares during the period. AGF Investments Inc. bought a new position in Raymond James during the first quarter valued at about $176,649,000. Mercer Global Advisors Inc. ADV increased its stake in Raymond James by 768.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 1,748,684 shares of the financial services provider’s stock valued at $192,198,000 after acquiring an additional 1,547,275 shares during the period. Primecap Management Co. CA increased its stake in Raymond James by 13.4% during the first quarter. Primecap Management Co. CA now owns 11,638,384 shares of the financial services provider’s stock valued at $1,279,175,000 after acquiring an additional 1,374,020 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Raymond James by 30.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,412,946 shares of the financial services provider’s stock valued at $265,206,000 after acquiring an additional 568,302 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RJF has been the topic of several research reports. StockNews.com upgraded Raymond James from a “hold” rating to a “buy” rating in a research note on Friday, October 28th. Citigroup initiated coverage on Raymond James in a report on Tuesday, October 11th. They set a “neutral” rating and a $117.00 price objective on the stock. Credit Suisse Group decreased their price objective on Raymond James to $118.00 in a report on Friday, November 4th. Jefferies Financial Group lifted their price objective on Raymond James from $108.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 26th. Finally, Morgan Stanley lifted their price objective on Raymond James from $113.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 31st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.50.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 4,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $106.75, for a total transaction of $427,000.00. Following the transaction, the insider now owns 21,096 shares of the company’s stock, valued at approximately $2,251,998. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 10.25% of the company’s stock.

Raymond James Stock Up 1.2 %

Shares of RJF opened at $123.05 on Tuesday. The company has a market capitalization of $26.56 billion, a P/E ratio of 17.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.96. Raymond James has a one year low of $84.86 and a one year high of $126.00. The business’s 50 day simple moving average is $109.99 and its 200-day simple moving average is $101.62.

Raymond James (NYSE:RJFGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.08. Raymond James had a return on equity of 17.90% and a net margin of 13.35%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the business earned $2.06 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James will post 9.44 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Monday, October 3rd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, September 30th. Raymond James’s dividend payout ratio is 19.48%.

Raymond James Company Profile

(Get Rating)

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.

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Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJFGet Rating).

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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