Comerica Bank decreased its holdings in shares of Raymond James (NYSE:RJF) by 7.4% in the 3rd quarter, Holdings Channel reports. The fund owned 46,578 shares of the financial services provider’s stock after selling 3,721 shares during the quarter. Comerica Bank’s holdings in Raymond James were worth $3,862,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RJF. Bank of New York Mellon Corp raised its position in shares of Raymond James by 51.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,877,559 shares of the financial services provider’s stock valued at $167,759,000 after acquiring an additional 634,378 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Raymond James by 4,885.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 366,463 shares of the financial services provider’s stock valued at $870,000 after acquiring an additional 359,112 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Raymond James by 7.7% during the 2nd quarter. Wells Fargo & Company MN now owns 4,521,398 shares of the financial services provider’s stock valued at $403,986,000 after acquiring an additional 322,014 shares during the last quarter. FMR LLC raised its position in shares of Raymond James by 30.0% during the 2nd quarter. FMR LLC now owns 959,737 shares of the financial services provider’s stock valued at $85,753,000 after acquiring an additional 221,379 shares during the last quarter. Finally, Davis Capital Partners LLC raised its position in shares of Raymond James by 400.0% during the 2nd quarter. Davis Capital Partners LLC now owns 250,000 shares of the financial services provider’s stock valued at $22,337,000 after acquiring an additional 200,000 shares during the last quarter. Institutional investors own 71.31% of the company’s stock.

Several brokerages have commented on RJF. Zacks Investment Research reiterated a “hold” rating on shares of Raymond James in a research report on Wednesday, November 14th. Buckingham Research dropped their target price on shares of Raymond James from $117.00 to $111.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Credit Suisse Group dropped their target price on shares of Raymond James from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Wells Fargo & Co dropped their target price on shares of Raymond James from $111.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Finally, Citigroup cut shares of Raymond James from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $104.00.

RJF opened at $78.74 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.10. Raymond James has a 12 month low of $71.93 and a 12 month high of $102.17. The firm has a market capitalization of $11.49 billion, a P/E ratio of 12.17, a PEG ratio of 0.62 and a beta of 1.74.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.13). Raymond James had a net margin of 11.46% and a return on equity of 15.99%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. As a group, sell-side analysts forecast that Raymond James will post 7.48 earnings per share for the current fiscal year.

In related news, President John C. Jr. Carson sold 5,698 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $92.66, for a total value of $527,976.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn bought 1,500 shares of Raymond James stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average cost of $73.75 per share, with a total value of $110,625.00. Following the completion of the purchase, the insider now owns 12,055 shares in the company, valued at approximately $889,056.25. The disclosure for this purchase can be found here. 10.46% of the stock is owned by corporate insiders.

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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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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