Hilltop Holdings Inc. Acquires New Position in Raymond James (NYSE:RJF)

Hilltop Holdings Inc. acquired a new position in Raymond James (NYSE:RJF - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,554 shares of the financial services provider's stock, valued at approximately $4,231,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wolff Wiese Magana LLC grew its holdings in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP bought a new position in shares of Raymond James in the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the third quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in shares of Raymond James in the third quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Raymond James in the third quarter valued at approximately $37,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RJF has been the subject of several recent analyst reports. TD Cowen upped their target price 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 increased their price objective on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a report on Friday, October 4th. The Goldman Sachs Group increased their price objective on Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on Raymond James from $140.00 to $152.00 and gave the company an "overweight" 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $140.91.

Raymond James Price Performance

Shares of RJF traded down $1.50 during trading hours on Tuesday, reaching $165.45. 1,244,199 shares of the company's stock traded hands, compared to its average volume of 1,140,181. The stock has a market cap of $33.76 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.97 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. The firm's 50 day simple moving average is $145.46 and its 200-day simple moving average is $127.69. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38.

Raymond James (NYSE:RJF - Get Free Report) 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 analysts' consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. Equities analysts expect 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.