Citizens Financial Group Inc. RI Has $6.07 Million Stock Position in Raymond James (NYSE:RJF)

Citizens Financial Group Inc. RI cut its holdings in shares of Raymond James (NYSE:RJF) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,532 shares of the financial services provider’s stock after selling 1,036 shares during the period. Citizens Financial Group Inc. RI’s holdings in Raymond James were worth $6,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Ceredex Value Advisors LLC boosted its position in shares of Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares during the last quarter. AGF Management Ltd. lifted its stake in Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares during the period. Earnest Partners LLC boosted its holdings in Raymond James by 5.9% during the first quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock worth $316,966,000 after buying an additional 138,075 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in Raymond James by 34.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock worth $60,462,000 after buying an additional 126,437 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Raymond James by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after buying an additional 113,826 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of RJF opened at $163.78 on Friday. The company has a 50 day moving average of $138.95 and a 200-day moving average of $125.61. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $33.73 billion, a P/E ratio of 16.87, a P/E/G ratio of 0.95 and a beta of 0.99. Raymond James has a twelve month low of $102.42 and a twelve month high of $164.71.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 EPS. As a group, equities research analysts forecast that Raymond James will post 10.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RJF. The Goldman Sachs Group increased their price target 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. Bank of America lifted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen upped their price objective 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. Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $140.91.

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.