Fifth Third Wealth Advisors LLC Purchases New Shares in Raymond James (NYSE:RJF)

Fifth Third Wealth Advisors LLC purchased a new position in Raymond James (NYSE:RJF) in the 3rd quarter, HoldingsChannel reports. The firm purchased 3,186 shares of the financial services provider’s stock, valued at approximately $390,000.

Other large investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP purchased a new position in shares of Raymond James during the second quarter valued at approximately $29,000. Covestor Ltd grew its stake in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James during the 3rd quarter worth approximately $32,000. Finally, Gladius Capital Management LP purchased a new position in Raymond James during the 3rd quarter valued at $34,000. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Up 1.0 %

Shares of NYSE: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 capitalization of $33.73 billion, a P/E ratio of 16.87, a P/E/G ratio of 0.95 and a beta of 0.99. The business’s 50-day moving average is $138.95 and its 200 day moving average is $125.61. Raymond James has a 1 year low of $102.42 and a 1 year high of $164.71.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business’s revenue for the quarter 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. On average, research analysts predict that Raymond James will post 10.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RJF shares. 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 report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company increased their target price 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. TD Cowen boosted their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James 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.