Cardinal Capital Management Cuts Position in Raymond James (NYSE:RJF)

Cardinal Capital Management trimmed its holdings in shares of Raymond James (NYSE:RJF) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,957 shares of the financial services provider’s stock after selling 149 shares during the period. Cardinal Capital Management’s holdings in Raymond James were worth $4,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. purchased a new stake in shares of Raymond James in the fourth quarter worth $625,000. Venturi Wealth Management LLC grew its position in Raymond James by 1,966.9% during the 4th quarter. Venturi Wealth Management LLC now owns 3,245 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 3,088 shares during the last quarter. CIBC Asset Management Inc increased its stake in Raymond James by 3.0% during the 4th quarter. CIBC Asset Management Inc now owns 29,207 shares of the financial services provider’s stock valued at $4,537,000 after purchasing an additional 841 shares in the last quarter. Pathway Financial Advisors LLC purchased a new position in Raymond James in the fourth quarter worth about $201,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James during the fourth quarter valued at approximately $511,000. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is owned by company insiders.

Raymond James Stock Down 0.5 %

RJF opened at $159.63 on Tuesday. The firm’s 50 day simple moving average is $161.63 and its two-hundred day simple moving average is $144.19. The company has a market capitalization of $32.62 billion, a PE ratio of 15.57, a PEG ratio of 0.98 and a beta of 1.03. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, equities analysts forecast that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.50 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, January 2nd. Raymond James’s payout ratio is presently 19.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wells Fargo & Company boosted their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. TD Cowen increased their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America boosted their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $166.09.

Raymond James Company 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.