Todays Report: Today, Bank of New York Mellon Corp Reached $336,462,000 position of Raymond James Financial Inc. (RJF)

Today, Bank of New York Mellon Corp Reached $336,462,000 position  of Raymond James Financial Inc. (RJF)

Bank of New York Mellon Corp boosted its position in shares of Raymond James Financial Inc. (NYSE:RJF) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,780,132 shares of the company’s stock after buying an additional 95,535 shares during the period. Bank of New York Mellon Corp owned 4.09% of Raymond James Financial worth $336,462,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Palisade Capital Management LLC NJ raised its stake in shares of Raymond James Financial by 1.6% in the second quarter. Palisade Capital Management LLC NJ now owns 763,587 shares of the company’s stock valued at $37,645,000 after buying an additional 12,290 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Raymond James Financial by 6.5% in the third quarter. Raymond James Trust N.A. now owns 150,162 shares of the company’s stock valued at $8,741,000 after buying an additional 9,123 shares in the last quarter. National Investment Services Inc. WI raised its stake in shares of Raymond James Financial by 2.1% in the second quarter. National Investment Services Inc. WI now owns 39,882 shares of the company’s stock valued at $1,966,000 after buying an additional 834 shares in the last quarter. DIAM Co. Ltd. raised its stake in shares of Raymond James Financial by 4.0% in the second quarter. DIAM Co. Ltd. now owns 45,474 shares of the company’s stock valued at $2,231,000 after buying an additional 1,749 shares in the last quarter. Finally, Wright Investors Service Inc. raised its stake in shares of Raymond James Financial by 46.8% in the second quarter. Wright Investors Service Inc. now owns 12,500 shares of the company’s stock valued at $616,000 after buying an additional 3,985 shares in the last quarter. Institutional investors and hedge funds own 68.95% of the company’s stock.

Shares of Raymond James Financial Inc. (NYSE:RJF) traded down 1.05% during mid-day trading on Monday, hitting $71.74. 501,686 shares of the stock traded hands. The firm’s 50 day moving average price is $63.24 and its 200-day moving average price is $56.64. The stock has a market cap of $10.14 billion, a P/E ratio of 19.65 and a beta of 1.51. Raymond James Financial Inc. has a 12-month low of $39.84 and a 12-month high of $73.59.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 26th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.29. The business earned $1.46 billion during the quarter. Raymond James Financial had a net margin of 9.59% and a return on equity of 11.26%. Raymond James Financial’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. Analysts predict that Raymond James Financial Inc. will post $4.29 earnings per share for the current year.

Several equities research analysts recently commented on RJF shares. Zacks Investment Research upgraded shares of Raymond James Financial from a “sell” rating to a “hold” rating in a research note on Thursday, August 18th. Wells Fargo & Co. reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, September 22nd. Nomura reiterated a “hold” rating and set a $62.00 price target on shares of Raymond James Financial in a research note on Friday, September 30th. Finally, JMP Securities lowered shares of Raymond James Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, October 28th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.83.

In related news, CFO Jeffrey P. Julien sold 18,600 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $57.62, for a total value of $1,071,732.00. Following the sale, the chief financial officer now directly owns 46,407 shares of the company’s stock, valued at $2,673,971.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.21% of the stock is currently owned by corporate insiders.

Raymond James Financial Company Profile

Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.

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