The Manufacturers Life Insurance Company Has $14.29 Million Stake in Raymond James (NYSE:RJF)

The Manufacturers Life Insurance Company cut its stake in Raymond James (NYSE:RJF) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,722 shares of the financial services provider’s stock after selling 3,149 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Raymond James worth $14,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its position 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 buying an additional 198 shares during the last quarter. Quarry LP purchased a new stake in shares of Raymond James in the second quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the third quarter valued at about $32,000. Gladius Capital Management LP purchased a new position in Raymond James during the third quarter worth about $34,000. Finally, Peterson Financial Group Inc. bought a new stake in Raymond James in the 3rd quarter worth about $37,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on RJF shares. The Goldman Sachs Group lifted their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen raised 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. JMP Securities boosted their price target on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $140.91.

Raymond James Stock Down 0.5 %

RJF opened at $169.28 on Monday. Raymond James has a 12 month low of $103.41 and a 12 month high of $171.38. The company has a market cap of $34.54 billion, a PE ratio of 17.43, a price-to-earnings-growth 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 company has a 50 day moving average of $144.61 and a 200 day moving average of $127.40.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during 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 firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.13 earnings per share. On average, sell-side analysts expect 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.