Raymond James Financial, Inc. $RJF Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 41.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,424 shares of the financial services provider’s stock after purchasing an additional 6,624 shares during the quarter. Cibc World Market Inc.’s holdings in Raymond James Financial were worth $3,870,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Raymond James Financial in the 2nd quarter valued at $354,446,000. JPMorgan Chase & Co. lifted its position in Raymond James Financial by 41.6% in the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after acquiring an additional 1,651,380 shares during the last quarter. First Trust Advisors LP boosted its stake in Raymond James Financial by 39.9% in the second quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock valued at $381,212,000 after acquiring an additional 709,315 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Raymond James Financial by 179.8% during the second quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock worth $105,581,000 after purchasing an additional 442,340 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Raymond James Financial by 824.7% during the second quarter. Marshall Wace LLP now owns 438,213 shares of the financial services provider’s stock worth $67,209,000 after purchasing an additional 390,821 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider directly owned 260,546 shares of the company’s stock, valued at $42,508,079.90. This represents a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 0.6%

NYSE RJF opened at $158.42 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $31.22 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.18 and a beta of 1.00. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The firm has a 50-day moving average price of $166.12 and a 200 day moving average price of $164.85.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 EPS. Equities research analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.54 dividend. The ex-dividend date was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial’s dividend payout ratio (DPR) is currently 21.14%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Barclays initiated coverage on Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on shares of Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. UBS Group set a $176.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and a consensus price target of $182.17.

About Raymond James Financial

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.