Hilltop Holdings Inc. Acquires Shares of 34,554 Raymond James (NYSE:RJF)

Hilltop Holdings Inc. bought a new position in Raymond James (NYSE:RJF) in the 3rd quarter, Holdings Channel.com reports. The firm bought 34,554 shares of the financial services provider’s stock, valued at approximately $4,231,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in Raymond James by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after acquiring an additional 7,028 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Raymond James by 390.7% during the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 6,649 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Raymond James during the third quarter worth $3,561,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Raymond James by 105.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock worth $3,834,000 after purchasing an additional 15,940 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Raymond James by 529.4% in the first quarter. Cetera Investment Advisers now owns 21,656 shares of the financial services provider’s stock valued at $2,781,000 after purchasing an additional 18,215 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. 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 note on Tuesday, October 29th. The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price target on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. TD Cowen raised their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, JMP Securities lifted their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a 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, the stock has an average rating of “Hold” and a consensus price target of $140.91.

Raymond James Stock Performance

RJF stock opened at $166.98 on Tuesday. The stock’s 50 day simple moving average is $144.61 and its 200 day simple moving average is $127.40. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38. The firm has a market cap of $34.07 billion, a P/E ratio of 17.20, a P/E/G 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.

Raymond James (NYSE:RJF) last released its earnings results 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. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts predict that Raymond James will post 10.83 EPS for the current 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.