Brokerages Set Raymond James (NYSE:RJF) PT at $153.82

Raymond James (NYSE:RJF) has been given a consensus recommendation of “Hold” by the thirteen research firms that are presently covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $153.82.

Several equities research analysts recently commented on RJF shares. JMP Securities reissued a “market outperform” rating and issued a $175.00 price target on shares of Raymond James in a report on Thursday, April 24th. Morgan Stanley increased their target price on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on Raymond James from $149.00 to $143.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Citigroup reduced their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their target price on Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th.

Raymond James Price Performance

NYSE:RJF opened at $148.75 on Friday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $30.01 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. The stock’s 50-day moving average price is $142.15 and its 200-day moving average price is $151.05.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Raymond James’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 EPS. As a group, equities analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.25%.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider now directly owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider now directly owns 74,586 shares of the company’s stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Raymond James

Hedge funds and other institutional investors have recently modified their holdings of the business. TCTC Holdings LLC raised its position in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new stake in Raymond James in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC raised its position in Raymond James by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares during the period. Finally, Plato Investment Management Ltd raised its position in Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

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.