Cerity Partners LLC Purchases 922 Shares of Raymond James (NYSE:RJF)

Cerity Partners LLC boosted its position in Raymond James (NYSE:RJF) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,534 shares of the financial services provider’s stock after acquiring an additional 922 shares during the period. Cerity Partners LLC’s holdings in Raymond James were worth $2,147,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC grew its stake in shares of Raymond James by 1.4% in the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 82 shares during the last quarter. Wedmont Private Capital grew its position in shares of Raymond James by 5.1% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after buying an additional 86 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after buying an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC increased its stake in shares of Raymond James by 1.6% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after buying an additional 96 shares during the period. Finally, MFA Wealth Advisors LLC raised its holdings in shares of Raymond James by 2.7% during the third quarter. MFA Wealth Advisors LLC now owns 4,051 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective 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. TD Cowen boosted their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America raised their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, JMP Securities raised their target price 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. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $140.91.

Raymond James Trading Down 0.5 %

NYSE RJF opened at $169.28 on Monday. Raymond James has a 12 month low of $103.41 and a 12 month high of $171.38. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $144.61 and its 200-day moving average price is $127.40. The stock has a market cap of $34.54 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.99 and a beta of 0.99.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 EPS. As a group, equities analysts forecast that Raymond James will post 10.83 EPS for the current fiscal year.

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.