34,554 Shares in Raymond James (NYSE:RJF) Purchased by Hilltop Holdings Inc.

Hilltop Holdings Inc. acquired a new stake in Raymond James (NYSE:RJF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,554 shares of the financial services provider’s stock, valued at approximately $4,231,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AGF Management Ltd. boosted its stake in shares of 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 in the last quarter. Earnest Partners LLC lifted its holdings in Raymond James by 1.5% in the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after acquiring an additional 37,173 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Raymond James by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock worth $273,919,000 after purchasing an additional 25,494 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 113,826 shares during the period. Finally, APG Asset Management N.V. increased its holdings in shares of Raymond James by 2.1% in the 2nd quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock valued at $216,153,000 after purchasing an additional 38,695 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $166.98 on Tuesday. The company has a market cap of $34.07 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.99 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $144.61 and a two-hundred day moving average price of $127.40. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.13 EPS. As a group, research analysts predict that Raymond James will post 10.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. The Goldman Sachs Group lifted 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. Morgan Stanley upped 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. Wells Fargo & Company lifted their price objective on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has an average 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.