Raymond James (NYSE:RJF) Holdings Trimmed by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its position in shares of Raymond James (NYSE:RJF) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,700 shares of the financial services provider’s stock after selling 400 shares during the period. Cumberland Partners Ltd’s holdings in Raymond James were worth $1,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings 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 purchasing an additional 2,898,242 shares in the last quarter. State Street Corp grew its position in Raymond James by 0.7% in the third 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 last quarter. JPMorgan Chase & Co. increased its holdings in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after buying an additional 488,245 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after acquiring an additional 12,869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Raymond James by 0.7% during 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 and hedge funds.

Raymond James Trading Down 0.8 %

NYSE RJF opened at $159.61 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The firm’s fifty day simple moving average is $161.59 and its 200-day simple moving average is $144.66. The company has a market capitalization of $32.71 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.93 and a beta of 1.03.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Citigroup upped their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Morgan Stanley lifted their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Nine 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $166.09.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.