Townsquare Capital LLC Purchases 3,915 Shares of Raymond James (NYSE:RJF)

Townsquare Capital LLC boosted its holdings in Raymond James (NYSE:RJF) by 20.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,454 shares of the financial services provider’s stock after purchasing an additional 3,915 shares during the quarter. Townsquare Capital LLC’s holdings in Raymond James were worth $2,872,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its holdings in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. Quarry LP purchased a new position in shares of Raymond James during the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the third quarter worth $32,000. Gladius Capital Management LP purchased a new stake in Raymond James in the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. bought a new position in Raymond James during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Bank of America increased their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, JMP Securities boosted their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James Stock Performance

NYSE RJF opened at $169.28 on Friday. The company’s 50 day moving average is $144.61 and its 200-day moving average is $127.40. The firm has a market cap of $34.54 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99. Raymond James has a 12-month low of $103.41 and a 12-month high of $171.38. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

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, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion for 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 business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 earnings per share. Sell-side analysts predict that Raymond James will post 10.83 earnings per share for the current year.

Raymond James 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.