Raymond James Financial, Inc. $RJF Shares Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 104.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,600 shares of the financial services provider’s stock after buying an additional 9,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Raymond James Financial were worth $3,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Raymond James Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares during the last quarter. Woodline Partners LP lifted its stake in Raymond James Financial by 41.8% during the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 4,592 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Raymond James Financial by 6.0% in the 2nd quarter. Nordea Investment Management AB now owns 16,650 shares of the financial services provider’s stock valued at $2,537,000 after acquiring an additional 949 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 100 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Raymond James Financial by 0.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 33,882 shares of the financial services provider’s stock worth $5,171,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul C. Reilly sold 130,687 shares of Raymond James Financial stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the sale, the insider directly owned 260,546 shares of the company’s stock, valued at $42,508,079.90. The trade was a 33.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 2.0%

Shares of NYSE:RJF opened at $161.21 on Thursday. The business’s 50 day moving average price is $165.75 and its 200-day moving average price is $164.73. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04.

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

Raymond James Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. Raymond James Financial’s payout ratio is presently 21.14%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RJF. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. TD Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, BMO Capital Markets raised their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $182.17.

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.