Analysts Set Raymond James (NYSE:RJF) Price Target at $126.22

Shares of Raymond James (NYSE:RJF) have been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $126.22.

A number of research firms have weighed in on RJF. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Bank of America decreased their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. TD Cowen lowered their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. JMP Securities reissued a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Finally, StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

Raymond James Stock Performance

NYSE RJF opened at $125.57 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The company has a market cap of $26.25 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.85 and a beta of 1.03. The stock has a 50-day moving average of $123.65 and a two-hundred day moving average of $113.48. Raymond James has a 1-year low of $84.06 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 earnings per share. As a group, analysts anticipate that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.43%. Raymond James’s payout ratio is 21.77%.

Insider Activity at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Institutional Trading of Raymond James

Several institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new position in Raymond James in the 1st quarter worth about $33,000. Turtle Creek Wealth Advisors LLC acquired a new position in Raymond James in the fourth quarter worth approximately $30,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Raymond James during the fourth quarter worth $33,000. Addison Advisors LLC raised its holdings in Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 137 shares in the last quarter. 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.