Cibc World Markets Corp Reduces Position in Raymond James (NYSE:RJF)

Cibc World Markets Corp cut its holdings in shares of Raymond James (NYSE:RJF) by 19.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,471 shares of the financial services provider’s stock after selling 7,091 shares during the quarter. Cibc World Markets Corp’s holdings in Raymond James were worth $4,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Eldridge Investment Advisors Inc. purchased a new stake in shares of Raymond James during the fourth quarter valued at $243,000. Corient Private Wealth LLC boosted its position in shares of Raymond James by 3.2% during the fourth quarter. Corient Private Wealth LLC now owns 21,282 shares of the financial services provider’s stock valued at $3,305,000 after buying an additional 658 shares during the last quarter. one8zero8 LLC purchased a new stake in shares of Raymond James during the fourth quarter valued at $565,000. Natixis Advisors LLC boosted its position in Raymond James by 5.7% in the fourth quarter. Natixis Advisors LLC now owns 252,643 shares of the financial services provider’s stock worth $39,242,000 after purchasing an additional 13,512 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd boosted its position in Raymond James by 500.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 2,400 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 2,000 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on RJF shares. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Morgan Stanley raised their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Citigroup raised their target price on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $167.55.

Raymond James Stock Up 1.9 %

Shares of RJF opened at $146.44 on Thursday. The business’s 50 day moving average is $157.37 and its 200 day moving average is $149.19. The company has a market capitalization of $30.01 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) 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%. Research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.37%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

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.