CIBC World Markets Inc. decreased its stake in shares of Raymond James (NYSE:RJF) by 15.9% during the first quarter, HoldingsChannel reports. The firm owned 3,131 shares of the financial services provider’s stock after selling 594 shares during the period. CIBC World Markets Inc.’s holdings in Raymond James were worth $252,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc grew its holdings in Raymond James by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock valued at $1,266,683,000 after purchasing an additional 182,616 shares in the last quarter. BlackRock Inc. lifted its position in Raymond James by 1.1% in the 4th quarter. BlackRock Inc. now owns 8,648,787 shares of the financial services provider’s stock valued at $643,557,000 after purchasing an additional 97,786 shares during the last quarter. Geode Capital Management LLC lifted its position in Raymond James by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 1,643,101 shares of the financial services provider’s stock valued at $122,040,000 after purchasing an additional 102,797 shares during the last quarter. Northern Trust Corp lifted its position in Raymond James by 1.2% in the 4th quarter. Northern Trust Corp now owns 1,486,063 shares of the financial services provider’s stock valued at $110,579,000 after purchasing an additional 17,404 shares during the last quarter. Finally, FMR LLC raised its position in shares of Raymond James by 2.7% during the 4th quarter. FMR LLC now owns 950,188 shares of the financial services provider’s stock worth $70,705,000 after buying an additional 25,407 shares in the last quarter. Institutional investors and hedge funds own 70.06% of the company’s stock.
RJF has been the topic of several recent research reports. Argus reaffirmed a “buy” rating on shares of Raymond James in a research note on Tuesday, April 30th. Compass Point began coverage on shares of Raymond James in a report on Monday, March 11th. They set a “buy” rating and a $96.00 price target for the company. ValuEngine cut shares of Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Citigroup boosted their price objective on shares of Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, Zacks Investment Research raised shares of Raymond James from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Raymond James has an average rating of “Buy” and an average price target of $94.63.
RJF opened at $84.23 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 1.08. Raymond James has a fifty-two week low of $69.11 and a fifty-two week high of $100.42. The firm has a market cap of $12.07 billion, a PE ratio of 13.02 and a beta of 1.59.
Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.81 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.14. Raymond James had a return on equity of 15.90% and a net margin of 12.90%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Raymond James will post 7.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.36 dividend on an annualized basis and a yield of 1.61%. Raymond James’s dividend payout ratio (DPR) is presently 21.02%.
In related news, CFO Jeffrey P. Julien sold 28,073 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $90.99, for a total transaction of $2,554,362.27. Following the sale, the chief financial officer now owns 67,738 shares of the company’s stock, valued at approximately $6,163,480.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan N. Santelli sold 725 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $84.82, for a total value of $61,494.50. Following the sale, the executive vice president now directly owns 3,003 shares in the company, valued at approximately $254,714.46. The disclosure for this sale can be found here. Insiders have sold a total of 109,881 shares of company stock worth $10,012,987 in the last ninety days. Insiders own 10.74% of the company’s stock.
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About Raymond James
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.
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