UBS Group Trims Raymond James (NYSE:RJF) Target Price to $135.00

Raymond James (NYSE:RJF) had its price target trimmed by UBS Group from $138.00 to $135.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. Wolfe Research restated a peer perform rating on shares of Raymond James in a report on Monday. Bank of America decreased their target price on shares of Raymond James from $145.00 to $141.00 and set a buy rating on the stock in a research report on Thursday, April 25th. JMP Securities reiterated a market perform rating on shares of Raymond James in a report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on Raymond James from $132.00 to $131.00 and set a market perform rating for the company in a research report on Thursday, April 25th. Finally, TD Cowen increased 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. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $129.89.

Raymond James Trading Up 0.8 %

Shares of RJF opened at $120.70 on Tuesday. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $122.02 and a 200-day simple moving average of $119.73. The stock has a market cap of $25.02 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.80 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its quarterly earnings results 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). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the business posted $2.03 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Raymond James will post 9.54 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Transactions at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven M. Raney sold 4,174 shares of the business’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 value of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Large investors have recently bought and sold shares of the company. Covestor Ltd grew its holdings in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Smithfield Trust Co grew its stake in shares of Raymond James by 105.0% during the first 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. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the first quarter worth about $33,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James in the fourth quarter worth about $30,000. Finally, OLD Point Trust & Financial Services N A purchased a new position in Raymond James in the fourth quarter valued at about $33,000. Institutional investors and hedge funds 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.