Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Raymond James (NYSE:RJF)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ceredex Value Advisors LLC lifted its position in Raymond James by 191.3% during the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after buying an additional 474,443 shares during the period. AGF Management Ltd. increased its stake in shares of 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 valued at $318,972,000 after acquiring an additional 378,033 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Raymond James by 5.9% during the 1st 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 period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted 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 worth $60,462,000 after acquiring an additional 126,437 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 113,826 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 0.9 %

NYSE RJF opened at $165.18 on Friday. The company’s fifty day simple moving average is $139.90 and its 200-day simple moving average is $125.88. The stock has a market cap of $34.02 billion, a P/E ratio of 17.01, a PEG ratio of 0.95 and a beta of 0.99. Raymond James has a 52 week low of $102.42 and a 52 week 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.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share 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 company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the company posted $2.13 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts predict that Raymond James will post 10.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group raised their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, JMP Securities raised their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Raymond James has an average rating of “Hold” and an average price target of $140.91.

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.