Cibc World Markets Corp Reduces Holdings in Raymond James (NYSE:RJF)

Cibc World Markets Corp cut its stake in shares of Raymond James (NYSE:RJF) by 19.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,471 shares of the financial services provider’s stock after selling 7,091 shares during the quarter. Cibc World Markets Corp’s holdings in Raymond James were worth $4,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in 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 buying an additional 2,898,242 shares during the period. State Street Corp lifted its holdings in 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 buying an additional 54,265 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 488,245 shares during the period. Geode Capital Management LLC lifted its holdings in 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 buying an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Raymond James by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider’s stock worth $167,472,000 after buying an additional 13,817 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RJF has been the subject of several research analyst reports. Bank of America increased their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $161.00 to $185.00 in a report on Monday, January 6th. JPMorgan Chase & Co. increased their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley increased their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $167.55.

Raymond James Price Performance

Shares of NYSE:RJF opened at $146.44 on Thursday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The business has a fifty day moving average price of $157.37 and a 200-day moving average price of $149.19. The company has a market capitalization of $30.01 billion, a PE ratio of 14.29, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, equities analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.37%. Raymond James’s dividend payout ratio is 19.51%.

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.