Raymond James (NYSE:RJF) Price Target Increased to $123.00 by Analysts at Jefferies Financial Group

Raymond James (NYSE:RJFFree Report) had its price objective hoisted by Jefferies Financial Group from $122.00 to $123.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

RJF has been the topic of a number of other reports. TD Cowen increased their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a hold rating in a report on Monday. JMP Securities restated a market perform rating on shares of Raymond James in a research report on Tuesday, April 9th. Bank of America reduced their price objective on shares of Raymond James from $145.00 to $141.00 and set a buy rating for the company in a research report on Thursday, April 25th. Wolfe Research restated a peer perform rating on shares of Raymond James in a research report on Monday. Finally, Citigroup upped their price objective on shares of Raymond James from $112.00 to $132.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $127.67.

View Our Latest Stock Analysis on RJF

Raymond James Stock Performance

Shares of NYSE RJF opened at $117.47 on Monday. The company’s fifty day moving average price is $122.21 and its 200 day moving average price is $119.67. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a market capitalization of $24.35 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

Raymond James (NYSE:RJFGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the company posted $2.03 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Raymond James will post 9.55 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insiders Place Their Bets

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Raymond James in the fourth quarter valued at approximately $30,000. Smithfield Trust Co raised its holdings in Raymond James by 105.0% in the first 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 in the last quarter. Covestor Ltd raised its holdings in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the fourth quarter valued at approximately $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

About Raymond James

(Get Free Report)

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.

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