Raymond James (NYSE:RJF) Price Target Raised to $133.00

Raymond James (NYSE:RJF) had its price target increased by TD Cowen from $130.00 to $133.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the stock. Bank of America dropped their price target on shares of Raymond James from $145.00 to $141.00 and set a buy rating for the company in a research note on Thursday, April 25th. Morgan Stanley increased their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Wolfe Research reaffirmed a peer perform rating on shares of Raymond James in a research report on Monday. JMP Securities reaffirmed a market perform rating on shares of Raymond James in a research report on Tuesday, April 9th. Finally, Citigroup increased their target price on shares of Raymond James from $112.00 to $132.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $129.89.

Raymond James Stock Up 1.0 %

Shares of NYSE RJF opened at $119.83 on Monday. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The stock has a market cap of $24.84 billion, a PE ratio of 14.49, a P/E/G ratio of 0.80 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $122.09 and a 200 day moving average of $119.72.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company posted $2.03 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Raymond James will post 9.54 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.45 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.50%. Raymond James’s payout ratio is 21.77%.

Insider Activity

In other news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Several hedge funds and other institutional investors have recently bought and sold shares of RJF. Drive Wealth Management LLC grew its position in Raymond James by 3.4% during the 1st quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 85 shares during the last quarter. Steph & Co. grew its position in Raymond James by 9.3% during the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 91 shares during the last quarter. Private Advisor Group LLC grew its position in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the last quarter. Federated Hermes Inc. grew its position in Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 96 shares during the last quarter. Finally, Oarsman Capital Inc. grew its position in Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 99 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.