CIBC Asset Management Inc Purchases 841 Shares of Raymond James (NYSE:RJF)

CIBC Asset Management Inc raised its position in shares of Raymond James (NYSE:RJF) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,207 shares of the financial services provider’s stock after purchasing an additional 841 shares during the period. CIBC Asset Management Inc’s holdings in Raymond James were worth $4,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. State Street Corp raised its position in shares of Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after acquiring an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Raymond James by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after acquiring an additional 12,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Raymond James by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after acquiring an additional 7,121 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on RJF. Wells Fargo & Company boosted their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Morgan Stanley upped their target price 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, Bank of America upped their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.09.

Raymond James Stock Down 0.8 %

Raymond James stock opened at $159.61 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The business’s 50-day simple moving average is $161.59 and its two-hundred day simple moving average is $144.66. The company has a market cap of $32.71 billion, a PE ratio of 15.57, a PEG ratio of 0.93 and a beta of 1.03. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities analysts anticipate that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.50 dividend. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. Raymond James’s dividend payout ratio is presently 19.51%.

Insider Transactions at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 over the last quarter. 0.54% of the stock is currently owned by insiders.

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.