CIBC Private Wealth Group LLC Lowers Stock Holdings in Raymond James (NYSE:RJF)

CIBC Private Wealth Group LLC lowered its holdings in Raymond James (NYSE:RJFFree Report) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,045 shares of the financial services provider’s stock after selling 162 shares during the period. CIBC Private Wealth Group LLC’s holdings in Raymond James were worth $2,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RJF. Norges Bank purchased a new stake in shares of Raymond James in the fourth quarter valued at $238,830,000. Dimensional Fund Advisors LP boosted its holdings in Raymond James by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after acquiring an additional 263,687 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Raymond James by 2.2% in the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Raymond James by 269.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider’s stock valued at $25,923,000 after acquiring an additional 188,305 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new position in Raymond James in the third quarter valued at $12,737,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD Cowen reduced their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Citigroup lifted their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Morgan Stanley boosted their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Nine 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, Raymond James has an average rating of “Hold” and a consensus price target of $126.22.

Get Our Latest Research Report on RJF

Raymond James Trading Down 0.2 %

Shares of RJF opened at $120.03 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19. The stock’s 50-day moving average is $124.50 and its two-hundred day moving average is $117.66. The stock has a market cap of $24.88 billion, a PE ratio of 14.51, a P/E/G ratio of 0.82 and a beta of 1.01.

Raymond James (NYSE:RJFGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 EPS. Equities analysts forecast that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio is currently 21.77%.

About Raymond James

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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