Raymond James (NYSE:RJF) Position Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in Raymond James (NYSE:RJF) by 40.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,823 shares of the financial services provider’s stock after purchasing an additional 110,496 shares during the quarter. BNP Paribas Financial Markets’ holdings in Raymond James were worth $47,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Raymond James in the 3rd quarter valued at $73,000. D.A. Davidson & CO. lifted its stake in Raymond James by 9.4% during the third quarter. D.A. Davidson & CO. now owns 5,391 shares of the financial services provider’s stock valued at $660,000 after buying an additional 461 shares in the last quarter. Qsemble Capital Management LP acquired a new position in shares of Raymond James in the third quarter worth about $791,000. Bank of Montreal Can increased its position in shares of Raymond James by 3.5% in the third quarter. Bank of Montreal Can now owns 275,189 shares of the financial services provider’s stock worth $33,700,000 after acquiring an additional 9,378 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Raymond James during the third quarter valued at approximately $1,508,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RJF has been the topic of several research analyst reports. Bank of America lifted their price objective 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. The Goldman Sachs Group increased their price objective on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company upped their price target on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Raymond James presently has an average rating of “Hold” and a consensus target price of $140.91.

Raymond James Price Performance

NYSE RJF opened at $170.10 on Friday. The company has a market cap of $35.03 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.98 and a beta of 0.99. Raymond James has a 1 year low of $102.42 and a 1 year high of $170.93. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $142.79 and a 200 day simple moving average of $126.80.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business posted $2.13 earnings per share. On average, sell-side analysts predict that Raymond James will post 10.83 EPS for the current year.

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.