Raymond James (NYSE:RJF) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its position in shares of Raymond James (NYSE:RJFGet Rating) by 28.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,024 shares of the financial services provider’s stock after purchasing an additional 1,119 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Raymond James were worth $497,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Private Advisor Group LLC acquired a new position in Raymond James during the first quarter worth $364,000. Yousif Capital Management LLC raised its holdings in Raymond James by 1.0% during the first quarter. Yousif Capital Management LLC now owns 28,663 shares of the financial services provider’s stock worth $3,150,000 after purchasing an additional 275 shares during the last quarter. Cibc World Market Inc. acquired a new position in Raymond James during the first quarter worth $4,195,000. Prudential PLC acquired a new position in Raymond James during the first quarter worth $540,000. Finally, Cetera Investment Advisers raised its holdings in Raymond James by 52.9% during the first quarter. Cetera Investment Advisers now owns 4,636 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 1,604 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RJF shares. UBS Group cut their price target on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Monday. The Goldman Sachs Group cut their price target on Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, January 4th. Credit Suisse Group cut their price target on Raymond James to $118.00 in a report on Friday, November 4th. Citigroup started coverage on Raymond James in a report on Tuesday, October 11th. They issued a “neutral” rating and a $117.00 price target for the company. Finally, Keefe, Bruyette & Woods cut Raymond James from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $130.00 to $120.00 in a report on Monday, December 19th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $122.29.

Raymond James Price Performance

Shares of NYSE:RJF opened at $110.97 on Wednesday. The company has a market cap of $23.87 billion, a P/E ratio of 15.90 and a beta of 1.06. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.46. Raymond James has a 52 week low of $84.86 and a 52 week high of $126.00. The business has a fifty day simple moving average of $114.30 and a 200-day simple moving average of $106.29.

Raymond James (NYSE:RJFGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The financial services provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.75 billion. Raymond James had a return on equity of 17.68% and a net margin of 13.35%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.06 earnings per share. Equities research analysts forecast that Raymond James will post 9.4 EPS for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, December 30th. This is an increase from Raymond James’s previous quarterly dividend of $0.34. Raymond James’s payout ratio is 24.07%.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 24,016 shares of the business’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $111.27, for a total transaction of $2,672,260.32. Following the completion of the sale, the chief executive officer now owns 267,499 shares of the company’s stock, valued at $29,764,613.73. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Raymond James news, CEO Paul C. Reilly sold 24,016 shares of the business’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $111.27, for a total transaction of $2,672,260.32. Following the completion of the sale, the chief executive officer now owns 267,499 shares of the company’s stock, valued at $29,764,613.73. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider George Catanese sold 3,489 shares of the business’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $114.02, for a total value of $397,815.78. Following the sale, the insider now directly owns 11,862 shares of the company’s stock, valued at approximately $1,352,505.24. The disclosure for this sale can be found here. 10.25% of the stock is owned by company insiders.

Raymond James Company Profile

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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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