Stablepoint Partners LLC Raises Stake in Raymond James Financial, Inc. $RJF

by · The Markets Daily

Stablepoint Partners LLC lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,035 shares of the financial services provider’s stock after buying an additional 329 shares during the period. Stablepoint Partners LLC’s holdings in Raymond James Financial were worth $1,999,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Raymond James Financial in the 2nd quarter valued at $354,446,000. JPMorgan Chase & Co. grew its position in shares of Raymond James Financial by 41.6% in the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after purchasing an additional 1,651,380 shares during the period. Nuveen LLC acquired a new position in Raymond James Financial in the first quarter valued at $111,368,000. Goldman Sachs Group Inc. lifted its position in Raymond James Financial by 44.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock worth $237,305,000 after buying an additional 525,134 shares during the period. Finally, Invesco Ltd. boosted its stake in Raymond James Financial by 19.1% in the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after buying an additional 466,129 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. BMO Capital Markets lifted their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. JMP Securities boosted their price objective on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus target price of $177.20.

View Our Latest Analysis on RJF

Raymond James Financial Price Performance

Raymond James Financial stock opened at $156.54 on Friday. The firm has a fifty day moving average of $162.59 and a 200-day moving average of $160.11. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $31.21 billion, a P/E ratio of 15.21, a PEG ratio of 1.19 and a beta of 1.05.

Raymond James Financial (NYSE:RJF – Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the company earned $2.95 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

About Raymond James Financial

(Free Report)

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.

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