Russell Investments Group Ltd. Has $20.43 Million Stake in Raymond James (NYSE:RJF)

Russell Investments Group Ltd. decreased its position in shares of Raymond James (NYSE:RJF) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,857 shares of the financial services provider’s stock after selling 63,958 shares during the period. Russell Investments Group Ltd. owned 0.09% of Raymond James worth $20,426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC acquired a new position in Raymond James during the 2nd quarter worth $239,000. Citigroup Inc. lifted its position in Raymond James by 137.0% during the 2nd quarter. Citigroup Inc. now owns 254,235 shares of the financial services provider’s stock worth $26,382,000 after acquiring an additional 146,950 shares during the last quarter. Beverly Hills Private Wealth LLC raised its position in shares of Raymond James by 103.5% during the second quarter. Beverly Hills Private Wealth LLC now owns 11,590 shares of the financial services provider’s stock valued at $1,250,000 after buying an additional 5,894 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Raymond James by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,434,163 shares of the financial services provider’s stock valued at $148,829,000 after buying an additional 117,155 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of Raymond James by 2,650.7% during the second quarter. Fiera Capital Corp now owns 411,945 shares of the financial services provider’s stock valued at $42,748,000 after buying an additional 396,969 shares during the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.

Raymond James Price Performance

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

Raymond James (NYSE:RJF) last announced its quarterly earnings data 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 net margin of 13.39% and a return on equity of 18.48%. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.99 billion. Sell-side analysts anticipate that Raymond James will post 9.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts 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 target price on the stock. Morgan Stanley lowered their target price on shares of Raymond James from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. Jefferies Financial Group lowered their target price on shares of Raymond James from $128.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Citigroup lowered their target price on shares of Raymond James from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, September 22nd. Finally, JPMorgan Chase & Co. started coverage on shares of Raymond James in a research note on Tuesday, September 19th. They issued a “neutral” rating and a $121.00 target price on the stock. Seven equities research 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 company currently has a consensus rating of “Hold” and an average price target of $118.67.

Insider Activity at Raymond James

In related news, COO Jeffrey A. Dowdle sold 8,044 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $99.41, for a total value of $799,654.04. Following the transaction, the chief operating officer now directly owns 40,270 shares in the company, valued at $4,003,240.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.46% of the stock is currently owned by company insiders.

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.