Raymond James (NYSE:RJF) Price Target Raised to $123.00

Raymond James (NYSE:RJF) had its target price raised by Jefferies Financial Group from $122.00 to $123.00 in a research report released on Monday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. TD Cowen boosted their target price on Raymond James from $130.00 to $133.00 and gave the stock a hold rating in a research report on Monday. Bank of America decreased their target price on Raymond James from $145.00 to $141.00 and set a buy rating for the company in a research report on Thursday, April 25th. Citigroup boosted their target price on Raymond James from $112.00 to $132.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Wolfe Research restated a peer perform rating on shares of Raymond James in a research report on Monday. Finally, Morgan Stanley boosted their target price on Raymond James from $113.00 to $123.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $129.89.

Raymond James Stock Performance

Shares of NYSE:RJF opened at $119.83 on Monday. The stock has a market capitalization of $24.84 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.80 and a beta of 1.02. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $122.09 and a two-hundred day moving average price of $119.72.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. Equities analysts predict that Raymond James will post 9.54 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James E. Bunn sold 11,095 shares of the company’s 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 sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. 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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC raised its stake in shares of Raymond James by 62.0% during the 2nd quarter. Simplicity Wealth LLC now owns 4,218 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 1,615 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Raymond James by 15.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,809 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 243 shares in the last quarter. CWM LLC raised its stake in shares of Raymond James by 1.4% during the 2nd quarter. CWM LLC now owns 11,528 shares of the financial services provider’s stock worth $1,425,000 after purchasing an additional 156 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Raymond James by 6.3% during the 2nd quarter. Park Avenue Securities LLC now owns 13,535 shares of the financial services provider’s stock worth $1,673,000 after purchasing an additional 802 shares in the last quarter. Finally, DNB Asset Management AS raised its stake in shares of Raymond James by 4.1% during the 2nd quarter. DNB Asset Management AS now owns 32,893 shares of the financial services provider’s stock worth $4,066,000 after purchasing an additional 1,298 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.