CIBC Asset Management Inc Has $6.95 Million Stock Position in Raymond James Financial, Inc. $RJF

CIBC Asset Management Inc increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 61.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 43,261 shares of the financial services provider’s stock after buying an additional 16,475 shares during the period. CIBC Asset Management Inc’s holdings in Raymond James Financial were worth $6,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Raymond James Financial by 22.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,201,739 shares of the financial services provider’s stock valued at $192,987,000 after buying an additional 216,907 shares during the period. Harfst & Associates Inc. lifted its stake in Raymond James Financial by 3.5% in the fourth quarter. Harfst & Associates Inc. now owns 1,067,120 shares of the financial services provider’s stock valued at $171,369,000 after buying an additional 36,183 shares during the period. Westpac Banking Corp lifted its stake in Raymond James Financial by 7.7% in the fourth quarter. Westpac Banking Corp now owns 2,480 shares of the financial services provider’s stock valued at $398,000 after buying an additional 177 shares during the period. Natixis Advisors LLC lifted its stake in Raymond James Financial by 4.3% in the fourth quarter. Natixis Advisors LLC now owns 329,450 shares of the financial services provider’s stock valued at $52,906,000 after buying an additional 13,591 shares during the period. Finally, Old Peak Finance LLC acquired a new position in Raymond James Financial in the fourth quarter valued at approximately $311,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.6%

Shares of NYSE:RJF opened at $151.48 on Friday. The company has a market capitalization of $29.52 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The business has a fifty day moving average price of $150.20 and a two-hundred day moving average price of $156.64. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 EPS. Analysts forecast that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is 20.42%.

Analysts Set New Price Targets

Several brokerages have issued reports on RJF. Morgan Stanley boosted their price target on Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group dropped their price target on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. BMO Capital Markets boosted their price target on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, TD Cowen lowered their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $172.92.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by company insiders.

About Raymond James Financial

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.