D.A. Davidson & CO. Purchases 461 Shares of Raymond James (NYSE:RJF)

D.A. Davidson & CO. grew its holdings in shares of Raymond James (NYSE:RJF) by 9.4% during the third quarter, HoldingsChannel.com reports. The firm owned 5,391 shares of the financial services provider’s stock after acquiring an additional 461 shares during the quarter. D.A. Davidson & CO.’s holdings in Raymond James were worth $660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP acquired a new position in Raymond James in the second quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the third quarter worth about $32,000. Gladius Capital Management LP acquired a new stake in Raymond James during the third quarter worth about $34,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Raymond James during the 3rd quarter worth approximately $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of Raymond James stock opened at $166.98 on Tuesday. The company has a market cap of $34.07 billion, a P/E ratio of 17.21, a PEG ratio of 0.99 and a beta of 0.99. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $144.61 and a two-hundred day moving average price of $127.40. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.13 EPS. As a group, analysts anticipate that Raymond James will post 10.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, JMP Securities upped their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $140.91.

About Raymond James

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.