Raymond James (NYSE:RJF) Position Lifted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Raymond James (NYSE:RJF) by 74.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 66,394 shares of the financial services provider’s stock after purchasing an additional 28,320 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Raymond James were worth $8,131,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RJF. Ceredex Value Advisors LLC grew its stake in Raymond James by 191.3% in the third 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. lifted its holdings in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after buying an additional 378,033 shares during the last quarter. Earnest Partners LLC lifted its stake 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 purchasing an additional 138,075 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Raymond James by 34.4% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock valued at $60,462,000 after buying an additional 126,437 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Raymond James by 6.0% in 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 period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America upped 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 Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group lifted their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, JMP Securities boosted their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $140.91.

Raymond James Price Performance

Shares of NYSE:RJF opened at $165.18 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $34.02 billion, a P/E ratio of 17.01, a P/E/G ratio of 0.95 and a beta of 0.99. The business has a 50-day moving average of $139.90 and a two-hundred day moving average of $125.88. Raymond James has a fifty-two week low of $102.42 and a fifty-two week high of $165.42.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the business posted $2.13 EPS. Raymond James’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Company 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.