Cumberland Partners Ltd Buys New Holdings in Raymond James (NYSE:RJF)

Cumberland Partners Ltd acquired a new stake in shares of Raymond James (NYSE:RJF - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,400 shares of the financial services provider's stock, valued at approximately $714,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in Raymond James during the 4th quarter valued at about $30,000. Addison Advisors LLC increased its position in Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 103 shares during the period. CVA Family Office LLC purchased a new position in Raymond James during the 4th quarter valued at about $50,000. Headlands Technologies LLC increased its position in Raymond James by 139.8% during the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 302 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in Raymond James by 52.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 192 shares during the period. Institutional investors own 83.83% of the company's stock.

Raymond James Stock Performance

NYSE:RJF traded up $0.40 during trading hours on Wednesday, hitting $127.54. 1,301,462 shares of the company were exchanged, compared to its average volume of 1,053,899. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 0.88 and a beta of 1.05. Raymond James has a 52-week low of $82.00 and a 52-week high of $131.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The company's 50 day moving average price is $122.97 and its 200-day moving average price is $112.28.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.03. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. Raymond James's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 EPS. As a group, research analysts forecast that Raymond James will post 9.36 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James's dividend payout ratio is presently 22.56%.

Insiders Place Their Bets

In related news, Director Art A. Garcia bought 879 shares of the company's stock in a transaction on Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Art A. Garcia acquired 879 shares of the firm's stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on RJF. Jefferies Financial Group reissued a "hold" rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Morgan Stanley raised their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. raised shares of Raymond James from a "neutral" rating to an "overweight" rating and raised their target price for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $116.00 price objective (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Finally, TD Cowen lifted their price objective on shares of Raymond James from $116.50 to $131.00 and gave the stock a "market perform" rating in a research report on Friday, March 22nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $123.88.

Raymond James Company 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.