Mackenzie Financial Corp Buys 3,249 Shares of Raymond James (NYSE:RJF)

Mackenzie Financial Corp grew its stake in shares of Raymond James (NYSE:RJFGet Rating) by 18.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 20,711 shares of the financial services provider’s stock after acquiring an additional 3,249 shares during the period. Mackenzie Financial Corp’s holdings in Raymond James were worth $1,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. Zions Bancorporation N.A. increased its holdings in shares of Raymond James by 222.5% during the second quarter. Zions Bancorporation N.A. now owns 287 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 198 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Raymond James by 365.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 298 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 234 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Raymond James by 334.1% during the second quarter. JFS Wealth Advisors LLC now owns 382 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 294 shares in the last quarter. Covestor Ltd increased its holdings in shares of Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 138 shares in the last quarter. Finally, Clear Street Markets LLC increased its holdings in Raymond James by 434.2% in the 2nd quarter. Clear Street Markets LLC now owns 406 shares of the financial services provider’s stock worth $36,000 after buying an additional 330 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Raymond James

In other news, insider James E. Bunn sold 4,000 shares of Raymond James stock in a transaction dated 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 directly owns 21,096 shares of the company’s stock, valued at approximately $2,251,998. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.25% of the company’s stock.

Raymond James Trading Up 0.4 %

Raymond James stock opened at $123.52 on Wednesday. The business has a 50-day simple moving average of $110.32 and a two-hundred day simple moving average of $101.80. The company has a market cap of $26.66 billion, a P/E ratio of 17.70 and a beta of 1.07. Raymond James has a 52-week low of $84.86 and a 52-week high of $126.00. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.40.

Raymond James (NYSE:RJFGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.75 billion. Raymond James had a return on equity of 17.90% and a net margin of 13.35%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.06 EPS. Analysts predict that Raymond James will post 9.44 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup assumed coverage on Raymond James in a report on Tuesday, October 11th. They issued a “neutral” rating and a $117.00 price objective for the company. Morgan Stanley lifted their price objective on Raymond James from $113.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 31st. StockNews.com upgraded Raymond James from a “hold” rating to a “buy” rating in a report on Friday, October 28th. UBS Group assumed coverage on Raymond James in a report on Tuesday. They issued a “neutral” rating and a $127.00 price objective for the company. Finally, Jefferies Financial Group lifted their price objective on Raymond James from $108.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Moderate Buy” and an average target price of $122.60.

Raymond James 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.

See Also

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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