Fifth Third Wealth Advisors LLC Acquires New Stake in Raymond James (NYSE:RJF)

Fifth Third Wealth Advisors LLC bought a new position in Raymond James (NYSE:RJF) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,186 shares of the financial services provider’s stock, valued at approximately $390,000.

A number of other large investors have also recently modified their holdings of the business. Caprock Group LLC increased its holdings in shares of Raymond James by 2.2% in the 3rd quarter. Caprock Group LLC now owns 6,023 shares of the financial services provider’s stock worth $738,000 after buying an additional 131 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Raymond James in the 3rd quarter valued at $37,000. Gladius Capital Management LP purchased a new position in Raymond James in the 3rd quarter worth $34,000. Atlanta Consulting Group Advisors LLC lifted its stake in Raymond James by 7.4% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 4,889 shares of the financial services provider’s stock worth $599,000 after purchasing an additional 337 shares during the last quarter. Finally, Schneider Downs Wealth Management Advisors LP increased its holdings in shares of Raymond James by 363.9% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 21,546 shares of the financial services provider’s stock worth $2,639,000 after buying an additional 16,901 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

RJF opened at $163.78 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a market cap of $33.73 billion, a PE ratio of 16.87, a P/E/G ratio of 0.95 and a beta of 0.99. Raymond James has a 1 year low of $102.42 and a 1 year high of $164.71. The stock has a 50-day moving average price of $138.95 and a 200-day moving average price of $125.61.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. Raymond James’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts predict that Raymond James will post 10.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RJF has been the subject of several recent research reports. TD Cowen boosted their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. JMP Securities upped their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Bank of America upped their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $140.91.

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.