Massachusetts Financial Services Co. MA Decreases Stock Position in Raymond James (NYSE:RJF)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Raymond James (NYSE:RJF) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,156,439 shares of the financial services provider’s stock after selling 59,557 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.05% of Raymond James worth $264,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC increased its stake in shares of Raymond James by 191.3% during 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 in the last quarter. AGF Management Ltd. raised its holdings 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 worth $318,972,000 after acquiring an additional 378,033 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Raymond James by 5.9% in the first quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock worth $316,966,000 after acquiring an additional 138,075 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Raymond James by 34.4% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock valued at $60,462,000 after acquiring an additional 126,437 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Raymond James by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after acquiring an additional 113,826 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RJF. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. JMP Securities lifted their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America lifted their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group increased 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. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Raymond James currently has an average rating of “Hold” and an average target price of $140.91.

Raymond James Stock Performance

Shares of RJF stock opened at $165.18 on Friday. The company has a market capitalization of $34.02 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 0.96 and a beta of 0.99. Raymond James has a 1-year low of $102.42 and a 1-year high of $165.42. 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 stock’s fifty day simple moving average is $139.90 and its 200-day simple moving average is $125.88.

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