Analysts Set Raymond James (NYSE:RJF) Price Target at $137.36

Shares of Raymond James (NYSE:RJF) have earned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $140.91.

RJF has been the topic of a number of analyst reports. JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group upped their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, UBS Group reduced their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th.

Raymond James Stock Performance

Shares of Raymond James stock opened at $144.29 on Friday. Raymond James has a 12 month low of $97.05 and a 12 month high of $151.59. The firm has a market capitalization of $29.72 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.75 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $127.40 and a two-hundred day simple moving average of $122.16.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. Raymond James’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the company posted $2.13 EPS. On average, equities analysts forecast that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.25%. Raymond James’s dividend payout ratio (DPR) is 18.54%.

Insider Buying and Selling

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Raymond James

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the period. Quarry LP purchased a new position in shares of Raymond James during the 2nd quarter worth $29,000. Smithfield Trust Co grew its position in shares of Raymond James by 105.0% during the 1st 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 during the period. Covestor Ltd increased its stake in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in Raymond James in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

About Raymond James

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.