TD Cowen Issues Positive Forecast for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its target price increased by TD Cowen from $180.00 to $187.00 in a report published on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Bank of America increased their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Finally, BMO Capital Markets raised their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $181.36.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $172.46 on Wednesday. The stock’s 50-day moving average is $162.01 and its two-hundred day moving average is $163.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. Raymond James Financial has a 1 year low of $117.57 and a 1 year high of $177.66. The firm has a market cap of $34.06 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.03 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.28. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.95 EPS. Analysts predict that Raymond James Financial will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be issued a dividend of $0.54 per share. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, January 2nd. Raymond James Financial’s dividend payout ratio is currently 20.99%.

Insiders Place Their Bets

In other Raymond James Financial news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the transaction, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

A number of institutional investors have recently modified their holdings of RJF. Norges Bank purchased a new position in Raymond James Financial in the second quarter worth $354,446,000. JPMorgan Chase & Co. grew its stake in shares of Raymond James Financial by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock worth $861,479,000 after purchasing an additional 1,651,380 shares during the period. First Trust Advisors LP increased its holdings in shares of Raymond James Financial by 39.9% in the 2nd quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock valued at $381,212,000 after purchasing an additional 709,315 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Raymond James Financial by 179.8% in the second quarter. American Century Companies Inc. now owns 688,405 shares of the financial services provider’s stock valued at $105,581,000 after purchasing an additional 442,340 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Raymond James Financial during the third quarter worth about $69,861,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.