Cumberland Partners Ltd Increases Stock Holdings in Raymond James (NYSE:RJF)

Cumberland Partners Ltd raised its holdings in Raymond James (NYSE:RJF) by 24.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,100 shares of the financial services provider’s stock after buying an additional 1,800 shares during the quarter. Cumberland Partners Ltd’s holdings in Raymond James were worth $1,114,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RJF. Wolff Wiese Magana LLC raised its position in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP acquired a new stake in shares of Raymond James during the second quarter worth $29,000. Covestor Ltd grew its holdings in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the 3rd quarter valued at $32,000. Finally, Rothschild Investment LLC purchased a new position in Raymond James in the 2nd quarter worth $62,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Performance

NYSE RJF opened at $162.27 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock’s fifty day moving average is $132.64 and its two-hundred day moving average is $123.73. The firm has a market capitalization of $33.42 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99. Raymond James has a fifty-two week low of $99.06 and a fifty-two week high of $163.39.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the company posted $2.13 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts anticipate that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 18.54%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America boosted their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group upped their price target on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $140.91.

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.