Raymond James (NYSE:RJF) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its stake in Raymond James (NYSE:RJF) by 59.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,713 shares of the financial services provider’s stock after selling 12,663 shares during the quarter. Glenmede Trust Co. NA’s holdings in Raymond James were worth $1,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ceredex Value Advisors LLC lifted its holdings in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after purchasing an additional 474,443 shares in the last quarter. AGF Management Ltd. lifted its stake in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Raymond James by 34.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock worth $60,462,000 after acquiring an additional 126,437 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Raymond James by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after acquiring an additional 113,826 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Raymond James by 40.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 384,823 shares of the financial services provider’s stock valued at $47,125,000 after acquiring an additional 110,496 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America lifted their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, JMP Securities lifted their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $140.91.

Raymond James Stock Down 1.4 %

RJF stock opened at $166.98 on Tuesday. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The firm has a fifty day moving average price of $144.61 and a two-hundred day moving average price of $127.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a market cap of $34.07 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.99 and a beta of 0.99.

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

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.