Russell Investments Group Ltd. Sells 63,958 Shares of Raymond James (NYSE:RJF)

Russell Investments Group Ltd. trimmed its holdings in Raymond James (NYSE:RJF) by 24.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,857 shares of the financial services provider’s stock after selling 63,958 shares during the period. Russell Investments Group Ltd.’s holdings in Raymond James were worth $20,426,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RJF. Vinva Investment Management Ltd acquired a new stake in shares of Raymond James in the first quarter worth $459,000. KBC Group NV lifted its stake in shares of Raymond James by 198.9% in the first quarter. KBC Group NV now owns 39,599 shares of the financial services provider’s stock worth $3,693,000 after buying an additional 26,352 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Raymond James by 5.5% in the first quarter. Commonwealth Equity Services LLC now owns 28,491 shares of the financial services provider’s stock worth $2,657,000 after buying an additional 1,475 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Raymond James by 3.9% in the first quarter. Treasurer of the State of North Carolina now owns 87,848 shares of the financial services provider’s stock worth $8,194,000 after buying an additional 3,330 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Raymond James by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,005,331 shares of the financial services provider’s stock worth $93,767,000 after buying an additional 6,055 shares during the last quarter. 75.00% of the stock is owned by institutional investors.

Raymond James Stock Down 0.4 %

RJF opened at $103.90 on Tuesday. The firm’s 50-day simple moving average is $100.35 and its 200-day simple moving average is $100.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 0.97. Raymond James has a twelve month low of $82.00 and a twelve month high of $124.63. The firm has a market cap of $21.70 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.90 and a beta of 1.01.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.15). Raymond James had a return on equity of 18.48% and a net margin of 13.39%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.99 billion. Equities research analysts anticipate that Raymond James will post 9.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Raymond James news, COO Jeffrey A. Dowdle sold 8,044 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $99.41, for a total transaction of $799,654.04. Following the sale, the chief operating officer now owns 40,270 shares of the company’s stock, valued at approximately $4,003,240.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RJF shares. Bank of America started coverage on shares of Raymond James in a research note on Monday, September 11th. They issued a “buy” rating and a $122.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Raymond James in a research note on Tuesday, September 19th. They set a “neutral” rating and a $121.00 target price for the company. StockNews.com assumed coverage on shares of Raymond James in a research note on Thursday, October 5th. They set a “hold” rating for the company. Citigroup cut their target price on shares of Raymond James from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, September 22nd. Finally, Morgan Stanley cut their target price on shares of Raymond James from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, October 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.67.

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.