Cumberland Partners Ltd increased its position in Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 56.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,100 shares of the financial services provider’s stock after purchasing an additional 10,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Raymond James Financial were worth $4,673,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial during the 4th quarter valued at about $32,000. Anfield Capital Management LLC acquired a new position in Raymond James Financial during the 3rd quarter valued at about $33,000. Harbor Investment Advisory LLC boosted its stake in Raymond James Financial by 452.6% during the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Raymond James Financial during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 83.83% of the company’s stock.
Raymond James Financial Trading Up 0.7%
NYSE:RJF opened at $151.48 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $29.52 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.15 and a beta of 0.99. The firm’s 50 day moving average is $149.56 and its 200 day moving average is $157.58. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $177.66.
Raymond James Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.
Insider Transactions at Raymond James Financial
In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares of the company’s stock, valued at $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.58% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and set a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Jefferies Financial Group cut their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, April 6th. BMO Capital Markets lifted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial has a consensus rating of “Hold” and a consensus target price of $173.25.
View Our Latest Stock Analysis on RJF
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.
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Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF – Free Report).
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