Cumberland Partners Ltd Sells 3,300 Shares of Raymond James Financial, Inc. $RJF

Cumberland Partners Ltd reduced its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,800 shares of the financial services provider’s stock after selling 3,300 shares during the quarter. Cumberland Partners Ltd’s holdings in Raymond James Financial were worth $3,736,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RJF. First Trust Advisors LP increased its holdings in shares of Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after acquiring an additional 474,477 shares in the last quarter. Victory Capital Management Inc. increased its stake in Raymond James Financial by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after purchasing an additional 21,856 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after buying an additional 41,413 shares during the last quarter. Invesco Ltd. raised its holdings in Raymond James Financial by 12.2% during the fourth quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after buying an additional 254,773 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Raymond James Financial in the fourth quarter valued at $324,263,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RJF. Morgan Stanley upped their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. BMO Capital Markets restated a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday. UBS Group reaffirmed a “neutral” rating and set a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. Citizens Jmp increased their price target on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $178.82.

Raymond James Financial News Summary

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $169.27 on Friday. The company has a market capitalization of $32.99 billion, a PE ratio of 14.76, a PEG ratio of 1.06 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $156.99 and its 200-day moving average price is $156.61. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.Raymond James Financial’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the business posted $2.18 earnings per share. On average, equities analysts anticipate that Raymond James Financial, Inc. will post 11.84 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.83%.

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.