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

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

A number of other analysts have also recently issued reports on RJF. Jefferies Financial Group lifted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. TD Cowen boosted their target price 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. UBS Group reduced their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company boosted their target price on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $137.36.

Raymond James Stock Down 1.0 %

Shares of RJF stock traded down $1.46 on Thursday, reaching $145.94. 372,805 shares of the company’s stock traded hands, compared to its average volume of 1,136,401. The company has a market capitalization of $30.05 billion, a P/E ratio of 16.61, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The business’s 50 day moving average price is $123.66 and its two-hundred day moving average price is $121.26.

Raymond James (NYSE:RJF) last issued its earnings results 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. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Raymond James will post 9.55 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 dividend on an annualized basis and a dividend yield of 1.23%. Raymond James’s payout ratio is 20.29%.

Insider Buying and Selling at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 completion of the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC increased its position in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP bought a new stake in Raymond James during the 2nd quarter worth about $29,000. Covestor Ltd boosted its stake in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Smithfield Trust Co grew its holdings in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the 1st quarter worth approximately $33,000. Institutional investors 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.