Bank of New York Mellon Corp Has $326.60 Million Position in Raymond James Financial, Inc. (RJF)
Bank of New York Mellon Corp decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,872,841 shares of the financial services provider’s stock after selling 78,219 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.69% of Raymond James Financial worth $326,597,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of RJF. YorkBridge Wealth Partners LLC raised its position in Raymond James Financial by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 66 shares during the last quarter. Burt Wealth Advisors bought a new position in Raymond James Financial in the 2nd quarter valued at $150,000. Pacer Advisors Inc. raised its position in Raymond James Financial by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 206 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Raymond James Financial in the 2nd quarter valued at $225,000. Finally, FNY Partners Fund LP raised its position in Raymond James Financial by 3,103.0% in the 2nd quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 3,103 shares during the last quarter. Hedge funds and other institutional investors own 69.03% of the company’s stock.
RJF has been the subject of several research reports. Zacks Investment Research raised Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Wednesday, August 30th. Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $86.00 to $90.00 in a research note on Thursday, September 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, October 3rd. BidaskClub cut Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Buckingham Research lifted their target price on Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $89.67.
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Shares of Raymond James Financial, Inc. (NYSE RJF) traded down $0.23 during trading on Friday, hitting $83.07. The company had a trading volume of 42,349 shares, compared to its average volume of 786,823. Raymond James Financial, Inc. has a twelve month low of $68.97 and a twelve month high of $87.22. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $12,010.00, a PE ratio of 16.30, a PEG ratio of 0.83 and a beta of 1.71.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.97% and a net margin of 9.75%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. research analysts predict that Raymond James Financial, Inc. will post 5.89 earnings per share for the current fiscal year.
Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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