Raymond James (NYSE:RJF) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Raymond James (NYSE:RJF – Get Rating) in a report released on Thursday. The firm issued a hold rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the stock. UBS Group cut their price objective on shares of Raymond James from $127.00 to $125.00 and set a neutral rating on the stock in a research report on Monday, January 9th. The Goldman Sachs Group dropped their price objective on shares of Raymond James from $148.00 to $125.00 and set a buy rating on the stock in a report on Wednesday, January 4th. Keefe, Bruyette & Woods boosted their target price on shares of Raymond James from $120.00 to $126.00 and gave the company a market perform rating in a research note on Thursday, January 12th. Finally, Credit Suisse Group dropped their target price on shares of Raymond James from $119.00 to $116.00 and set a neutral rating for the company in a report on Thursday, January 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $122.86.

Raymond James Trading Down 1.6 %

Shares of RJF opened at $88.02 on Thursday. Raymond James has a 1-year low of $84.86 and a 1-year high of $126.00. The company has a 50-day moving average of $108.88 and a 200 day moving average of $109.71. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of 12.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.96.

Raymond James (NYSE:RJF – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $2.28 by $0.01. Raymond James had a net margin of 13.65% and a return on equity of 17.78%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Raymond James will post 9.44 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, March 31st. Raymond James’s payout ratio is 23.40%.

Insider Buying and Selling at Raymond James

In other news, insider Jodi Perry sold 6,343 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $112.30, for a total transaction of $712,318.90. Following the completion of the sale, the insider now owns 7,150 shares in the company, valued at approximately $802,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. RFP Financial Group LLC purchased a new position in Raymond James in the 4th quarter worth approximately $35,000. Covestor Ltd raised its position in shares of Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 138 shares in the last quarter. Dupont Capital Management Corp acquired a new position in shares of Raymond James in the 4th quarter valued at approximately $41,000. Pinnacle Financial Partners Inc. acquired a new position in shares of Raymond James in the 3rd quarter valued at approximately $44,000. Finally, Alta Advisers Ltd acquired a new position in shares of Raymond James in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

About Raymond James

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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.