Quest Partners LLC Sells 2,545 Shares of Raymond James (NYSE:RJF)

Quest Partners LLC lessened its stake in shares of Raymond James (NYSE:RJF) by 37.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,320 shares of the financial services provider’s stock after selling 2,545 shares during the period. Quest Partners LLC’s holdings in Raymond James were worth $529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RJF. Ceredex Value Advisors LLC boosted its position in shares of Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares in the last quarter. AGF Management Ltd. boosted its holdings in Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in Raymond James by 34.4% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock valued at $60,462,000 after acquiring an additional 126,437 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Raymond James by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after acquiring an additional 113,826 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Raymond James by 28.2% during the third quarter. KBC Group NV now owns 412,951 shares of the financial services provider’s stock valued at $50,570,000 after acquiring an additional 90,845 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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 research report on Thursday, October 24th. TD Cowen boosted 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. Morgan Stanley raised their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company boosted their price objective on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group raised their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $140.91.

Raymond James Price Performance

NYSE RJF opened at $165.18 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market cap of $34.02 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. Raymond James has a 52 week low of $102.42 and a 52 week high of $165.42. The firm’s 50-day simple moving average is $139.90 and its two-hundred day simple moving average is $125.89.

Raymond James (NYSE:RJF) last released 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. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the firm earned $2.13 EPS. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts predict that Raymond James will post 10.83 earnings per share 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.