Claraphi Advisory Network LLC trimmed its holdings in shares of Raymond James (NYSE:RJF) by 28.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,308 shares of the financial services provider’s stock after selling 1,315 shares during the period. Claraphi Advisory Network LLC’s holdings in Raymond James were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Willingdon Wealth Management acquired a new stake in shares of Raymond James in the 2nd quarter worth approximately $112,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Raymond James by 86.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,405 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 651 shares during the period. Rehmann Capital Advisory Group grew its holdings in shares of Raymond James by 57.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 530 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of Raymond James in the 2nd quarter worth approximately $135,000. Finally, CENTRAL TRUST Co grew its holdings in shares of Raymond James by 59.9% in the 3rd quarter. CENTRAL TRUST Co now owns 1,868 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 700 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on RJF shares. Zacks Investment Research upgraded Raymond James from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Thursday, October 4th. Buckingham Research lowered their price target on Raymond James from $117.00 to $111.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Credit Suisse Group lowered their price target on Raymond James from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Citigroup cut Raymond James from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Finally, JMP Securities upgraded Raymond James from a “market perform” rating to an “outperform” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Raymond James presently has an average rating of “Hold” and an average price target of $104.00.

Shares of NYSE:RJF opened at $77.91 on Tuesday. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.62 and a beta of 1.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.12. Raymond James has a one year low of $71.93 and a one year high of $102.17.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.13). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Raymond James had a net margin of 11.46% and a return on equity of 15.99%. As a group, equities research analysts forecast that Raymond James will post 7.48 earnings per share for the current year.

In other Raymond James news, President John C. Jr. Carson sold 5,698 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $92.66, for a total transaction of $527,976.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn bought 1,500 shares of the stock in a transaction on Monday, October 29th. The shares were bought at an average price of $73.75 per share, for a total transaction of $110,625.00. Following the acquisition, 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 currently owned by corporate insiders.

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Raymond James Company 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.

See Also: Hedge Funds – How They Work For Investors

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJF).

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

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