M&T Bank Corp decreased its stake in Raymond James (NYSE:RJF) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,698 shares of the financial services provider’s stock after selling 674 shares during the period. M&T Bank Corp’s holdings in Raymond James were worth $778,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in RJF. Cerebellum GP LLC bought a new stake in shares of Raymond James in the 4th quarter worth approximately $129,000. Tower Research Capital LLC TRC lifted its holdings in shares of Raymond James by 402.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,834 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 1,469 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Raymond James by 478.2% in the 4th quarter. Assetmark Inc. now owns 1,833 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 1,516 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in Raymond James in the 4th quarter valued at approximately $177,000. Finally, Claraphi Advisory Network LLC acquired a new stake in Raymond James in the 4th quarter valued at approximately $202,000. 71.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Dennis W. Zank sold 20,003 shares of Raymond James stock in a transaction on Friday, March 9th. The stock was sold at an average price of $98.63, for a total transaction of $1,972,895.89. Following the transaction, the chief operating officer now directly owns 150,849 shares in the company, valued at approximately $14,878,236.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Allison sold 6,600 shares of Raymond James stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $96.65, for a total value of $637,890.00. Following the transaction, the insider now owns 21,142 shares in the company, valued at $2,043,374.30. The disclosure for this sale can be found here. 10.46% of the stock is currently owned by company insiders.
RJF has been the topic of several analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $102.00 target price on shares of Raymond James in a research report on Thursday, January 25th. Buckingham Research raised their target price on Raymond James from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Credit Suisse Group restated a “hold” rating and issued a $99.00 target price on shares of Raymond James in a research report on Friday, January 26th. Zacks Investment Research cut Raymond James from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, ValuEngine upgraded Raymond James from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $100.11.
Shares of Raymond James opened at $100.64 on Tuesday, Marketbeat.com reports. Raymond James has a 1 year low of $71.35 and a 1 year high of $100.89. The firm has a market cap of $14.45 billion, a PE ratio of 19.24, a PEG ratio of 0.86 and a beta of 1.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.12.
Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.63. Raymond James had a return on equity of 15.36% and a net margin of 10.52%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. research analysts expect that Raymond James will post 6.8 earnings per share for the current year.
Raymond James Company 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.
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