Raymond James (NYSE:RJF) Price Target Lowered to $131.00 at Keefe, Bruyette & Woods

Raymond James (NYSE:RJF) had its target price reduced by Keefe, Bruyette & Woods from $132.00 to $131.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Raymond James from a buy rating to a hold rating in a research note on Friday, February 9th. The Goldman Sachs Group reaffirmed a neutral rating and issued a $116.00 target price (down from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. UBS Group dropped their target price on shares of Raymond James from $116.00 to $115.00 and set a neutral rating on the stock in a report on Thursday, January 25th. JPMorgan Chase & Co. raised shares of Raymond James from a neutral rating to an overweight rating and upped their target price for the company from $110.00 to $135.00 in a report on Wednesday, January 10th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Nine 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.com, the stock currently has a consensus rating of Hold and a consensus price target of $126.22.

Raymond James Trading Down 4.4 %

Shares of NYSE RJF opened at $121.95 on Thursday. The company’s fifty day moving average is $123.04 and its 200-day moving average is $112.35. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.89 and a beta of 1.05. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company’s revenue 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 research analysts predict that Raymond James will post 9.45 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given 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 1.48%. Raymond James’s payout ratio is presently 21.77%.

Insiders Place Their Bets

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in Raymond James by 26.0% in the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock valued at $16,668,000 after buying an additional 34,200 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Raymond James by 29.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 335,385 shares of the financial services provider’s stock valued at $37,395,000 after acquiring an additional 77,263 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Raymond James by 13.3% during the third quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 318 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Raymond James by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 17,536 shares of the financial services provider’s stock valued at $1,955,000 after acquiring an additional 997 shares during the last quarter. Finally, Operose Advisors LLC raised its stake in shares of Raymond James by 241.3% during the third quarter. Operose Advisors LLC now owns 1,024 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 724 shares during the last quarter. Institutional investors and hedge funds 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.