Morgan Stanley Increases Raymond James Financial (NYSE:RJF) Price Target to $180.00

Raymond James Financial (NYSE:RJF) had its price objective increased by Morgan Stanley from $136.00 to $180.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company upped their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. The Goldman Sachs Group cut their price target on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. JMP Securities upped their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a report on Monday. Bank of America cut Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a research report on Wednesday, April 30th. Finally, Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average target price of $162.40.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $159.52 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. Raymond James Financial has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a market capitalization of $32.19 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.29 and a beta of 1.02. The firm has a 50-day moving average of $151.27 and a two-hundred day moving average of $149.86.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The company’s revenue was up 9.0% on a year-over-year basis. As a group, analysts expect that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.25%.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the transaction, the insider directly owned 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction that occurred on 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 owned 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. First United Bank & Trust increased its holdings in Raymond James Financial by 136.0% during the second quarter. First United Bank & Trust now owns 2,490 shares of the financial services provider’s stock worth $382,000 after buying an additional 1,435 shares during the last quarter. Greenleaf Trust boosted its stake in shares of Raymond James Financial by 11.6% in the 2nd quarter. Greenleaf Trust now owns 3,052 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 318 shares in the last quarter. Capital Investment Advisors LLC increased its stake in shares of Raymond James Financial by 0.9% in the second quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider’s stock valued at $1,170,000 after buying an additional 68 shares during the period. GC Wealth Management RIA LLC acquired a new position in shares of Raymond James Financial in the second quarter valued at approximately $281,000. Finally, V Square Quantitative Management LLC increased its position in Raymond James Financial by 223.3% during the 2nd quarter. V Square Quantitative Management LLC now owns 15,602 shares of the financial services provider’s stock valued at $2,393,000 after purchasing an additional 10,776 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial 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.