Shell Asset Management Co. Acquires 9,934 Shares of Raymond James (RJF)

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Shell Asset Management Co. grew its position in shares of Raymond James (NYSE:RJF) by 27.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,582 shares of the financial services provider’s stock after buying an additional 9,934 shares during the quarter. Shell Asset Management Co.’s holdings in Raymond James were worth $3,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc grew its holdings in shares of Raymond James by 1.3% during the third quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock valued at $1,266,683,000 after buying an additional 182,616 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Raymond James by 1.1% during the fourth quarter. BlackRock Inc. now owns 8,648,787 shares of the financial services provider’s stock valued at $643,557,000 after buying an additional 97,786 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Raymond James by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 1,643,101 shares of the financial services provider’s stock valued at $122,040,000 after buying an additional 102,797 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Raymond James by 1.2% during the fourth quarter. Northern Trust Corp now owns 1,486,063 shares of the financial services provider’s stock valued at $110,579,000 after buying an additional 17,404 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Raymond James by 7.9% during the fourth quarter. Fisher Asset Management LLC now owns 1,364,074 shares of the financial services provider’s stock valued at $101,501,000 after buying an additional 99,905 shares during the last quarter. Hedge funds and other institutional investors own 70.65% of the company’s stock.

Shares of RJF stock opened at $86.84 on Friday. Raymond James has a 12-month low of $69.11 and a 12-month high of $101.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.11. The company has a market capitalization of $12.10 billion, a P/E ratio of 13.42 and a beta of 1.58.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.14. Raymond James had a net margin of 12.90% and a return on equity of 15.90%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $1.63 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts predict that Raymond James will post 7.47 EPS for the current year.

In other Raymond James news, CEO Paul C. Reilly sold 60,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $91.35, for a total value of $5,481,000.00. Following the transaction, the chief executive officer now directly owns 80,382 shares in the company, valued at $7,342,895.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey E. Trocin sold 13,157 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $91.11, for a total transaction of $1,198,734.27. The disclosure for this sale can be found here. Insiders sold 109,156 shares of company stock worth $9,951,492 in the last 90 days. 10.74% of the stock is currently owned by corporate insiders.

RJF has been the topic of several research reports. Argus restated a “buy” rating on shares of Raymond James in a report on Tuesday, April 30th. Zacks Investment Research upgraded shares of Raymond James from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Thursday, April 4th. Compass Point initiated coverage on shares of Raymond James in a report on Monday, March 11th. They issued a “buy” rating and a $96.00 target price on the stock. ValuEngine upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, Citigroup raised their target price on shares of Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $94.63.

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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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