Raymond James (NYSE:RJF) Upgraded by UBS Group to “Strong-Buy” Rating

UBS Group upgraded shares of Raymond James (NYSE:RJF) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other analysts have also weighed in on RJF. JPMorgan Chase & Co. restated a “neutral” rating and issued a $166.00 target price (up previously from $151.00) on shares of Raymond James in a research report on Tuesday. JMP Securities increased their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $169.00 price objective (up previously from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. Morgan Stanley boosted their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, TD Cowen increased their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $152.73.

Raymond James Stock Up 0.2 %

Shares of Raymond James stock opened at $159.32 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The business’s 50 day simple moving average is $159.61 and its 200 day simple moving average is $134.73. The firm has a market cap of $32.51 billion, a PE ratio of 16.41, a P/E/G ratio of 0.91 and a beta of 1.02. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 earnings per share. On average, analysts predict that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.26%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s dividend payout ratio is 20.60%.

Insider Activity at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. Company insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. Wolff Wiese Magana LLC increased its holdings in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Quarry LP purchased a new position in shares of Raymond James during the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James in the 3rd quarter worth $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James in the 3rd quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. bought a new position in Raymond James in the 3rd quarter valued at $37,000. 83.83% of the stock is currently owned by institutional investors.

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.