CFM Wealth Partners LLC Takes Position in Raymond James (NYSE:RJF)

CFM Wealth Partners LLC acquired a new stake in shares of Raymond James (NYSE:RJF) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,387 shares of the financial services provider’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust boosted its position in shares of Raymond James by 2.7% during the 4th quarter. Greenleaf Trust now owns 3,998 shares of the financial services provider’s stock valued at $621,000 after acquiring an additional 104 shares during the last quarter. DAVENPORT & Co LLC raised its stake in Raymond James by 9.0% in the fourth quarter. DAVENPORT & Co LLC now owns 58,278 shares of the financial services provider’s stock valued at $9,052,000 after purchasing an additional 4,816 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Raymond James by 0.8% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 286,444 shares of the financial services provider’s stock valued at $44,493,000 after purchasing an additional 2,276 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Raymond James by 7.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,121 shares of the financial services provider’s stock worth $951,000 after buying an additional 416 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Raymond James by 3.1% in the 4th quarter. Caprock Group LLC now owns 6,207 shares of the financial services provider’s stock worth $964,000 after buying an additional 184 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 over the last quarter. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on RJF shares. Bank of America increased their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup increased their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $166.09.

Raymond James Price Performance

Shares of RJF opened at $168.41 on Monday. The firm’s 50-day simple moving average is $162.36 and its two-hundred day simple moving average is $140.32. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The stock has a market cap of $34.42 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Analysts anticipate that Raymond James will post 11.16 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s payout ratio is presently 19.51%.

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.