Pitcairn Co. Has $294,000 Stock Position in Raymond James (NYSE:RJF)

Pitcairn Co. lessened its position in shares of Raymond James (NYSE:RJF) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,400 shares of the financial services provider’s stock after selling 1,138 shares during the period. Pitcairn Co.’s holdings in Raymond James were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. AGF Management Ltd. raised its stake in 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 worth $318,972,000 after acquiring an additional 378,033 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after acquiring an additional 37,173 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Raymond James by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock valued at $273,919,000 after acquiring an additional 25,494 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 113,826 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in Raymond James by 2.1% in the second quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock valued at $216,153,000 after purchasing an additional 38,695 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JMP Securities upped their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Trading Up 0.7 %

NYSE RJF opened at $170.13 on Thursday. Raymond James has a one year low of $102.42 and a one year high of $170.93. 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 business has a 50 day simple moving average of $141.81 and a 200 day simple moving average of $126.49. The stock has a market capitalization of $35.04 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.98 and a beta of 0.99.

Raymond James (NYSE:RJF) last released its quarterly earnings data 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 analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.13 EPS. Research analysts expect 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.