Raymond James (NYSE:RJF) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in shares of Raymond James (NYSE:RJFGet Rating) by 28.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,598 shares of the financial services provider’s stock after selling 13,954 shares during the quarter. CIBC Asset Management Inc’s holdings in Raymond James were worth $3,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RJF. Norges Bank acquired a new stake in Raymond James during the fourth quarter valued at approximately $176,209,000. Marshall Wace LLP grew its holdings in shares of Raymond James by 24,537.5% during the fourth quarter. Marshall Wace LLP now owns 1,193,195 shares of the financial services provider’s stock valued at $119,798,000 after purchasing an additional 1,188,352 shares during the last quarter. State Street Corp grew its holdings in shares of Raymond James by 6.7% during the fourth quarter. State Street Corp now owns 9,297,706 shares of the financial services provider’s stock valued at $933,490,000 after purchasing an additional 585,911 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Raymond James by 2,351.9% during the fourth quarter. Millennium Management LLC now owns 551,379 shares of the financial services provider’s stock valued at $55,358,000 after purchasing an additional 528,891 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Raymond James by 91.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 856,978 shares of the financial services provider’s stock valued at $86,040,000 after purchasing an additional 409,944 shares during the last quarter. Institutional investors and hedge funds own 76.98% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $102.30 on Friday. Raymond James has a 12-month low of $84.86 and a 12-month high of $117.37. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 14.57 and a beta of 1.09. The business has a 50 day simple moving average of $92.95 and a 200 day simple moving average of $100.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97.

Raymond James (NYSE:RJFGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.12). Raymond James had a return on equity of 18.39% and a net margin of 13.58%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned $1.83 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Raymond James will post 7.43 EPS for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, June 30th. Raymond James’s payout ratio is currently 19.37%.

Analysts Set New Price Targets

Several equities analysts have recently commented on RJF shares. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Morgan Stanley lowered their target price on Raymond James from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Finally, Citigroup lowered their target price on Raymond James from $205.00 to $195.00 in a report on Friday, April 29th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Raymond James currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.25.

About Raymond James

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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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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