Raymond James (NYSE:RJF) PT Lowered to $125.00

Raymond James (NYSE:RJF) had its target price lowered by The Goldman Sachs Group from $127.00 to $125.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on RJF. Wolfe Research reaffirmed a peer perform rating on shares of Raymond James in a report on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of Raymond James in a report on Thursday, September 12th. They issued an overweight rating and a $138.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Raymond James from $137.00 to $135.00 and set an overweight rating on the stock in a research note on Thursday, July 25th. TD Cowen lifted their price target on Raymond James from $130.00 to $133.00 and gave the company a hold rating in a research note on Monday, July 8th. Finally, UBS Group lowered their price target on Raymond James from $138.00 to $135.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $131.60.

Raymond James Price Performance

NYSE:RJF opened at $122.46 on Thursday. The firm’s fifty day moving average is $116.43 and its two-hundred day moving average is $120.47. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a one year low of $91.67 and a one year high of $131.19.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 earnings per share. Research analysts expect that Raymond James will post 9.58 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.47%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insider Transactions at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The stock was 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 owns 35,380 shares in the company, valued at $3,879,063.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC increased its position in shares of Raymond James by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after acquiring an additional 89,981 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 2,328 shares in the last quarter. Norden Group LLC boosted its position in shares of Raymond James by 3,257.7% during the first quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock worth $10,908,000 after buying an additional 82,419 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Raymond James by 5.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock valued at $28,937,000 after buying an additional 11,427 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock valued at $2,445,000 after buying an additional 17,499 shares during the period. 83.83% of the stock is owned by hedge funds and other 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.