Cumberland Partners Ltd Grows Position in Raymond James Financial, Inc. $RJF

Cumberland Partners Ltd grew its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 18.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,100 shares of the financial services provider’s stock after buying an additional 1,400 shares during the period. Cumberland Partners Ltd’s holdings in Raymond James Financial were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RJF. Princeton Global Asset Management LLC increased its holdings in Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after buying an additional 100 shares in the last quarter. TCTC Holdings LLC raised its holdings in Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 121 shares during the period. TD Private Client Wealth LLC raised its holdings in Raymond James Financial by 47.2% in the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 108 shares during the period. Zions Bancorporation National Association UT purchased a new position in Raymond James Financial during the first quarter worth approximately $60,000. Finally, South Dakota Investment Council grew its holdings in Raymond James Financial by 300.0% in the second quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 300 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. JMP Securities boosted their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Finally, TD Cowen lifted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and a consensus price target of $177.20.

Raymond James Financial Stock Up 1.4%

Shares of NYSE RJF opened at $157.94 on Thursday. The stock has a market cap of $31.49 billion, a PE ratio of 15.35, a P/E/G ratio of 1.19 and a beta of 1.05. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The company has a 50-day moving average of $164.93 and a 200 day moving average of $159.75.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the firm posted $2.95 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial 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.