CIBC Private Wealth Group LLC Has $2.62 Million Position in Raymond James (NYSE:RJF)

CIBC Private Wealth Group LLC raised its holdings in Raymond James (NYSE:RJF) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,455 shares of the financial services provider’s stock after buying an additional 1,000 shares during the period. CIBC Private Wealth Group LLC’s holdings in Raymond James were worth $2,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. TCTC Holdings LLC grew its holdings in Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares in the last quarter. Quarry LP raised its holdings in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Raymond James during the fourth quarter valued at about $68,000. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Up 3.0 %

RJF opened at $142.29 on Thursday. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a market cap of $29.16 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $153.24 and a 200 day moving average of $150.90.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, sell-side analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RJF shares. Citigroup reduced their price objective on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and an average target price of $165.73.

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.