Cumberland Partners Ltd Sells 3,300 Shares of Raymond James Financial, Inc. $RJF

Cumberland Partners Ltd lowered its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 11.3% in the 1st quarter, HoldingsChannel reports. The firm owned 25,800 shares of the financial services provider’s stock after selling 3,300 shares during the quarter. Cumberland Partners Ltd’s holdings in Raymond James Financial were worth $3,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Reflection Asset Management purchased a new position in Raymond James Financial in the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the fourth quarter worth $32,000. Hilton Head Capital Partners LLC bought a new stake in shares of Raymond James Financial in the fourth quarter valued at $35,000. DV Equities LLC bought a new stake in shares of Raymond James Financial in the fourth quarter valued at $40,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after buying an additional 65 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial News Summary

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

Analysts Set New Price Targets

RJF has been the subject of several research reports. Barclays increased their price target on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley upped their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Citizens Jmp increased their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a report on Thursday. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $178.82.

Raymond James Financial Trading Up 1.9%

Shares of RJF opened at $169.27 on Friday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66. The stock has a market cap of $32.99 billion, a PE ratio of 14.76, a P/E/G ratio of 1.06 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $156.99 and its 200-day moving average price is $156.61.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. Raymond James Financial’s revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $2.18 earnings per share. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.84 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 18.83%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.