Raymond James (NYSE:RJF) Price Target Raised to $150.00

Raymond James (NYSE:RJF) had its price target lifted by JMP Securities from $146.00 to $150.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on RJF. JPMorgan Chase & Co. cut their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. TD Cowen upped their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Wells Fargo & Company upped their price target on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group dropped their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $137.36.

Raymond James Stock Performance

Shares of RJF opened at $144.91 on Thursday. The company has a 50-day moving average of $124.23 and a two-hundred day moving average of $121.32. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a market cap of $30.04 billion, a P/E ratio of 17.52, a PEG ratio of 0.95 and a beta of 1.02. Raymond James has a 12-month low of $93.91 and a 12-month high of $148.68.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 earnings per share. As a group, research analysts predict that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.24%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insider Activity

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

A number of large investors have recently modified their holdings of RJF. Heritage Wealth Advisors increased its holdings in shares of Raymond James by 3,480.7% in the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after acquiring an additional 474,622 shares during the period. AGF Management Ltd. grew its position in Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares in the last quarter. SG Americas Securities LLC grew its position in Raymond James by 820.2% in the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock valued at $25,388,000 after buying an additional 176,210 shares in the last quarter. Avity Investment Management Inc. bought a new position in Raymond James in the 1st quarter valued at about $18,548,000. Finally, Earnest Partners LLC grew its position in Raymond James by 5.9% in the 1st quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock valued at $316,966,000 after buying an additional 138,075 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

About Raymond James

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.