Raymond James (NYSE:RJF) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Raymond James (NYSE:RJFFree Report) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other equities analysts also recently issued reports on the stock. TD Cowen started coverage on shares of Raymond James in a report on Thursday, January 4th. They set a market perform rating and a $121.00 price objective on the stock. UBS Group dropped their target price on Raymond James from $116.00 to $115.00 and set a neutral rating on the stock in a research report on Thursday, January 25th. JPMorgan Chase & Co. upgraded Raymond James from a neutral rating to an overweight rating and upped their target price for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. Morgan Stanley upped their target price on Raymond James from $106.00 to $113.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group reiterated a neutral rating and issued a $116.00 target price (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Raymond James has an average rating of Hold and a consensus target price of $119.25.

View Our Latest Stock Analysis on Raymond James

Raymond James Stock Performance

RJF opened at $114.88 on Friday. Raymond James has a 52-week low of $82.00 and a 52-week high of $116.58. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The company has a market cap of $24.01 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.03. The firm’s 50-day moving average price is $110.86 and its 200-day moving average price is $105.73.

Raymond James (NYSE:RJFGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Raymond James will post 9.15 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Friday, December 29th. This is a positive change from Raymond James’s previous quarterly dividend of $0.42. Raymond James’s dividend payout ratio is currently 22.56%.

Insiders Place Their Bets

In other Raymond James news, insider George Catanese sold 3,866 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $106.75, for a total value of $412,695.50. Following the sale, the insider now owns 11,712 shares in the company, valued at approximately $1,250,256. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Steven M. Raney sold 930 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $110.42, for a total transaction of $102,690.60. Following the completion of the transaction, the chief executive officer now directly owns 55,618 shares of the company’s stock, valued at approximately $6,141,339.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider George Catanese sold 3,866 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $106.75, for a total value of $412,695.50. Following the transaction, the insider now directly owns 11,712 shares of the company’s stock, valued at $1,250,256. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,687 shares of company stock worth $727,008. Corporate insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James during the 4th quarter worth approximately $30,000. Advisors Asset Management Inc. acquired a new position in Raymond James in the 3rd quarter valued at $30,000. OLD Point Trust & Financial Services N A acquired a new position in Raymond James in the 2nd quarter valued at $31,000. RFP Financial Group LLC raised its stake in Raymond James by 160.5% in the 2nd quarter. RFP Financial Group LLC now owns 323 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 199 shares during the last quarter. Finally, Covestor Ltd raised its stake in Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 138 shares during the last quarter. 75.00% of the stock is owned by institutional investors and hedge funds.

Raymond James Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Raymond James (NYSE:RJF)

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