Marshall Wace LLP Purchases New Shares in Raymond James (NYSE:RJF)

Marshall Wace LLP purchased a new stake in Raymond James (NYSE:RJF) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,732 shares of the financial services provider’s stock, valued at approximately $1,004,000.

Several other hedge funds have also added to or reduced their stakes in RJF. Vanguard Group Inc. grew its stake in Raymond James by 0.6% during the second quarter. Vanguard Group Inc. now owns 14,030,804 shares of the financial services provider’s stock worth $1,822,602,000 after buying an additional 77,117 shares in the last quarter. BlackRock Inc. grew its stake in Raymond James by 1.3% during the second quarter. BlackRock Inc. now owns 13,067,526 shares of the financial services provider’s stock worth $1,697,470,000 after buying an additional 172,593 shares in the last quarter. Tredje AP fonden grew its stake in Raymond James by 33.1% during the second quarter. Tredje AP fonden now owns 6,684,938 shares of the financial services provider’s stock worth $101,611,000 after buying an additional 1,662,234 shares in the last quarter. Primecap Management Co. CA grew its stake in Raymond James by 10.0% during the second quarter. Primecap Management Co. CA now owns 6,016,415 shares of the financial services provider’s stock worth $781,532,000 after buying an additional 546,830 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Raymond James by 1.8% in the 2nd quarter. State Street Corp now owns 5,618,045 shares of the financial services provider’s stock valued at $731,949,000 after purchasing an additional 99,414 shares in the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

In related news, insider James E. Bunn sold 15,166 shares of Raymond James stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $100.73, for a total value of $1,527,671.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.68% of the company’s stock.

Shares of RJF opened at $102.50 on Thursday. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 15.45 and a beta of 1.22. Raymond James has a 52 week low of $60.39 and a 52 week high of $103.46. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $98.99 and its 200-day moving average price is $92.24.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 27th. The financial services provider reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.35. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Raymond James had a return on equity of 19.47% and a net margin of 14.16%. The business’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 earnings per share. As a group, equities analysts anticipate that Raymond James will post 6.78 EPS for the current fiscal year.

The business also recently announced a dividend, which was paid on Tuesday, September 21st. Investors of record on Thursday, September 23rd were issued a $0.39 dividend. The ex-dividend date was Wednesday, September 22nd. This represents a yield of 1.16%. Raymond James’s dividend payout ratio (DPR) is presently 15.68%.

Several research analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of Raymond James in a report on Thursday, October 21st. They set a “buy” rating and a $111.00 price target for the company. Citigroup lowered their target price on Raymond James from $143.33 to $136.67 and set a “buy” rating on the stock in a research note on Tuesday, August 3rd. JMP Securities boosted their price objective on Raymond James from $103.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, October 21st. Zacks Investment Research downgraded Raymond James from a “buy” rating to a “hold” rating and set a $96.00 price objective for the company. in a research report on Friday, September 24th. Finally, Morgan Stanley upped their target price on Raymond James from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 29th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $99.67.

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

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