Russell Investments Group Ltd. Sells 63,958 Shares of Raymond James (NYSE:RJF)

Russell Investments Group Ltd. reduced its position in Raymond James (NYSE:RJF) by 24.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,857 shares of the financial services provider’s stock after selling 63,958 shares during the quarter. Russell Investments Group Ltd.’s holdings in Raymond James were worth $20,426,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vinva Investment Management Ltd bought a new stake in Raymond James during the first quarter valued at approximately $459,000. KBC Group NV lifted its position in Raymond James by 198.9% during the first quarter. KBC Group NV now owns 39,599 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 26,352 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Raymond James by 5.5% during the first quarter. Commonwealth Equity Services LLC now owns 28,491 shares of the financial services provider’s stock valued at $2,657,000 after purchasing an additional 1,475 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Raymond James by 3.9% during the first quarter. Treasurer of the State of North Carolina now owns 87,848 shares of the financial services provider’s stock valued at $8,194,000 after purchasing an additional 3,330 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Raymond James by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,005,331 shares of the financial services provider’s stock valued at $93,767,000 after purchasing an additional 6,055 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Raymond James

In other Raymond James news, COO Jeffrey A. Dowdle sold 8,044 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $99.41, for a total transaction of $799,654.04. Following the transaction, the chief operating officer now directly owns 40,270 shares of the company’s stock, valued at approximately $4,003,240.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 9.46% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Raymond James from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Friday, September 22nd. JPMorgan Chase & Co. started coverage on shares of Raymond James in a report on Tuesday, September 19th. They issued a “neutral” rating and a $121.00 price objective for the company. StockNews.com started coverage on shares of Raymond James in a report on Thursday, October 5th. They issued a “hold” rating for the company. Jefferies Financial Group lowered their price objective on shares of Raymond James from $128.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. Finally, Morgan Stanley lowered their price objective on shares of Raymond James from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $118.67.

Raymond James Stock Down 0.4 %

Shares of NYSE RJF opened at $103.90 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.38. Raymond James has a 52 week low of $82.00 and a 52 week high of $124.63. The firm’s fifty day moving average is $100.35 and its 200 day moving average is $100.56. The company has a market cap of $21.70 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.90 and a beta of 1.01.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.15). The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Raymond James had a net margin of 13.39% and a return on equity of 18.48%. On average, equities research analysts expect that Raymond James will post 9.06 earnings per share for the current year.

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.