Cumberland Partners Ltd Buys Shares of 6,400 Raymond James (NYSE:RJF)

Cumberland Partners Ltd purchased a new stake in Raymond James (NYSE:RJF) in the 4th quarter, Holdings Channel reports. The firm purchased 6,400 shares of the financial services provider’s stock, valued at approximately $714,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Raymond James in the 4th quarter valued at $100,000. Stephens Consulting LLC grew its holdings in shares of Raymond James by 188.8% in the 4th quarter. Stephens Consulting LLC now owns 40,624 shares of the financial services provider’s stock valued at $4,530,000 after buying an additional 26,556 shares during the period. Duality Advisers LP acquired a new position in shares of Raymond James in the 4th quarter valued at $326,000. Handelsbanken Fonder AB grew its holdings in shares of Raymond James by 3.6% in the 4th quarter. Handelsbanken Fonder AB now owns 44,316 shares of the financial services provider’s stock valued at $4,941,000 after buying an additional 1,549 shares during the period. Finally, CWM LLC grew its holdings in shares of Raymond James by 4.2% in the 4th quarter. CWM LLC now owns 12,852 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 520 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. TD Cowen upped their target price on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. UBS Group reduced their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $116.00 target price (down from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.88.

Raymond James Stock Performance

RJF stock traded up $0.53 during mid-day trading on Wednesday, hitting $127.67. 672,914 shares of the company were exchanged, compared to its average volume of 1,044,874. The business has a 50 day simple moving average of $122.75 and a 200-day simple moving average of $112.17. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $26.69 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Raymond James will post 9.36 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.41%. Raymond James’s payout ratio is 22.56%.

Insider Activity at Raymond James

In other news, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

About Raymond James

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.