TD Cowen Cuts Raymond James (NYSE:RJF) Price Target to $126.00

Raymond James (NYSE:RJF) had its target price trimmed by TD Cowen from $131.00 to $126.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

RJF has been the subject of several other reports. JPMorgan Chase & Co. upgraded Raymond James from a neutral rating to an overweight rating and increased their target price for the company from $110.00 to $135.00 in a report on Wednesday, January 10th. Bank of America dropped their target price on Raymond James from $145.00 to $141.00 and set a buy rating for the company in a report on Thursday. StockNews.com cut Raymond James from a buy rating to a hold rating in a report on Friday, February 9th. JMP Securities restated a market perform rating on shares of Raymond James in a report on Tuesday, April 9th. Finally, UBS Group dropped their target price on Raymond James from $116.00 to $115.00 and set a neutral rating for the company in a report on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $126.22.

Raymond James Price Performance

RJF opened at $121.86 on Thursday. The stock has a 50-day moving average price of $123.10 and a 200-day moving average price of $112.59. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $25.47 billion, a P/E ratio of 14.74, a PEG ratio of 0.85 and a beta of 1.05.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company posted $2.03 earnings per share. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts predict that Raymond James will post 9.37 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling at Raymond James

In other Raymond James news, Director Art A. Garcia purchased 879 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James in the 4th quarter worth approximately $30,000. OLD Point Trust & Financial Services N A bought a new position in shares of Raymond James in the 4th quarter worth approximately $33,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the 1st quarter worth approximately $33,000. Addison Advisors LLC raised its position in shares of Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Raymond James in the 4th quarter worth approximately $50,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

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.