Hsbc Holdings PLC Has $127.67 Million Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Hsbc Holdings PLC has increased its stake in Raymond James Financial by 58.1%, owning 920,707 shares valued at approximately $127.67 million.
• Raymond James Financial's latest quarterly earnings showed an EPS of $2.18, which was below the consensus estimate of $2.36, despite a revenue increase of 5.3% year-over-year.
• Analysts have differing views on the stock, with ratings ranging from "Strong Buy" to "Hold," and a consensus price target of $163.80 per share.

Hsbc Holdings PLC increased its stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 58.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 920,707 shares of the financial services provider's stock after purchasing an additional 338,441 shares during the period. Hsbc Holdings PLC owned approximately 0.46% of Raymond James Financial worth $127,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RJF. Mariner LLC boosted its stake in Raymond James Financial by 7.5% in the 4th quarter. Mariner LLC now owns 24,391 shares of the financial services provider's stock worth $3,789,000 after purchasing an additional 1,697 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Raymond James Financial by 6.4% during the 4th quarter. Guggenheim Capital LLC now owns 4,006 shares of the financial services provider's stock worth $622,000 after buying an additional 241 shares during the last quarter. GeoWealth Management LLC boosted its stake in shares of Raymond James Financial by 23.0% during the 4th quarter. GeoWealth Management LLC now owns 829 shares of the financial services provider's stock worth $129,000 after buying an additional 155 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Raymond James Financial by 380.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,412 shares of the financial services provider's stock worth $1,307,000 after buying an additional 6,661 shares during the last quarter. Finally, Norinchukin Bank The boosted its stake in shares of Raymond James Financial by 8.9% during the 4th quarter. Norinchukin Bank The now owns 8,484 shares of the financial services provider's stock worth $1,318,000 after buying an additional 692 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Down 0.2%

Raymond James Financial stock opened at $164.1020 on Wednesday. The stock has a market cap of $32.72 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.35 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a twelve month low of $113.91 and a twelve month high of $174.32. The company's 50-day moving average price is $158.92 and its two-hundred day moving average price is $150.01.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.39 earnings per share. As a group, analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider directly owned 74,586 shares of the company's stock, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RJF. Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a research note on Wednesday, April 30th. JMP Securities increased their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Morgan Stanley increased their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial currently has a consensus rating of "Hold" and a consensus target price of $163.80.

About Raymond James Financial

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.

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