Raymond James (NYSE:RJF) Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in Raymond James (NYSE:RJF) by 7.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,366 shares of the financial services provider’s stock after buying an additional 1,908 shares during the quarter. CIBC Asset Management Inc’s holdings in Raymond James were worth $3,474,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ceredex Value Advisors LLC boosted its stake in Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after acquiring an additional 474,443 shares during the period. AGF Management Ltd. lifted its holdings in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares during the last quarter. Earnest Partners LLC boosted its position in Raymond James by 5.9% during the 1st quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock valued at $316,966,000 after purchasing an additional 138,075 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in Raymond James by 34.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock worth $60,462,000 after buying an additional 126,437 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Raymond James by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after buying an additional 113,826 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Trading Up 1.7 %

Shares of NYSE:RJF opened at $163.42 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a market capitalization of $33.66 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.81 and a beta of 0.99. Raymond James has a 1-year low of $102.42 and a 1-year high of $164.33. The company has a 50 day moving average price of $136.16 and a 200 day moving average price of $124.81.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $2.13 EPS. On average, research analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 18.54%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RJF. JPMorgan Chase & Co. lowered their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. JMP Securities lifted their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. TD Cowen increased their price objective on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group increased their price target on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average target price of $140.91.

Raymond James Company 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.