Earnest Partners LLC Buys 18,070 Shares of Raymond James (NYSE:RJF)

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Earnest Partners LLC boosted its stake in Raymond James (NYSE:RJF) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,828,540 shares of the financial services provider’s stock after acquiring an additional 18,070 shares during the quarter. Raymond James accounts for about 1.4% of Earnest Partners LLC’s portfolio, making the stock its 10th biggest holding. Earnest Partners LLC owned 1.32% of Raymond James worth $154,603,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in RJF. JPMorgan Chase & Co. boosted its stake in Raymond James by 2.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,527,322 shares of the financial services provider’s stock worth $208,503,000 after purchasing an additional 69,935 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Raymond James by 27.9% during the 1st quarter. Primecap Management Co. CA now owns 2,039,950 shares of the financial services provider’s stock valued at $164,032,000 after acquiring an additional 445,300 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Raymond James by 10.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,787,923 shares of the financial services provider’s stock valued at $151,170,000 after acquiring an additional 175,088 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Raymond James by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 1,643,101 shares of the financial services provider’s stock valued at $122,040,000 after acquiring an additional 102,797 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Raymond James by 1.7% during the 2nd quarter. Northern Trust Corp now owns 1,495,150 shares of the financial services provider’s stock valued at $126,414,000 after acquiring an additional 24,761 shares during the last quarter. 70.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RJF opened at $87.52 on Friday. The firm has a market cap of $11.70 billion, a P/E ratio of 13.53 and a beta of 1.52. Raymond James has a 12-month low of $69.11 and a 12-month high of $96.76. The company’s 50-day moving average price is $78.55 and its 200 day moving average price is $82.99. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($0.06). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Raymond James had a return on equity of 16.12% and a net margin of 13.06%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.55 earnings per share. Equities research analysts forecast that Raymond James will post 7.4 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. ValuEngine cut shares of Raymond James from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Citigroup set a $87.00 price target on shares of Raymond James and gave the company a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $93.88.

In other Raymond James news, EVP Jonathan N. Santelli sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $84.80, for a total transaction of $101,760.00. Following the sale, the executive vice president now directly owns 1,078 shares in the company, valued at $91,414.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey P. Julien sold 15,756 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $78.59, for a total transaction of $1,238,264.04. Following the sale, the chief financial officer now owns 39,592 shares in the company, valued at $3,111,535.28. The disclosure for this sale can be found here. 10.74% of the stock is owned by corporate insiders.

About Raymond James

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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