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

Cumberland Partners Ltd bought a new stake in Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,400 shares of the financial services provider’s stock, valued at approximately $714,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in Raymond James in the fourth quarter valued at about $30,000. Addison Advisors LLC grew its stake in shares of Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Raymond James during the fourth quarter worth about $50,000. Headlands Technologies LLC grew its stake in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 302 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Raymond James by 52.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RJF. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. The Goldman Sachs Group restated a “neutral” rating and issued a $116.00 price objective (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $117.00 price target (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. UBS Group reduced their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $110.00 to $135.00 in a research note on Wednesday, January 10th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $123.88.

Raymond James Trading Up 0.4 %

Raymond James stock traded up $0.53 during midday trading on Wednesday, reaching $127.67. 672,914 shares of the stock traded hands, compared to its average volume of 1,044,874. The company has a 50-day simple moving average of $122.75 and a two-hundred day simple moving average of $112.17. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The firm has a market cap 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. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.15. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 EPS. Research analysts expect that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

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

Insider Transactions at Raymond James

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

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.