Raymond James (NYSE:RJF) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its position in shares of Raymond James (NYSE:RJF) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,700 shares of the financial services provider’s stock after selling 400 shares during the period. Cumberland Partners Ltd’s holdings in Raymond James were worth $1,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RJF. Franklin Resources Inc. lifted its holdings in Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after buying an additional 9,217 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Raymond James during the third quarter worth about $3,561,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after acquiring an additional 7,028 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Raymond James by 7,238.7% in the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after acquiring an additional 44,735 shares in the last quarter. Finally, Longboard Asset Management LP purchased a new position in Raymond James in the fourth quarter valued at about $245,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Down 0.8 %

NYSE:RJF opened at $159.61 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $161.59 and a 200-day moving average of $144.66. The firm has a market capitalization of $32.71 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.93 and a beta of 1.03. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Analysts predict that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.25%. Raymond James’s dividend payout ratio is 19.51%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RJF. JPMorgan Chase & Co. lifted their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Citigroup lifted their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. JMP Securities increased their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $166.09.

Insider Buying and Selling at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is owned by company insiders.

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.