Raymond James Financial (NYSE:RJF) Price Target Lowered to $145.00 at Jefferies Financial Group

Raymond James Financial (NYSE:RJF) had its price objective lowered by Jefferies Financial Group from $165.00 to $145.00 in a research note published on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on RJF. Barclays began coverage on Raymond James Financial in a report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 target price on the stock. UBS Group set a $176.00 target price on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Finally, Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial presently has an average rating of “Hold” and a consensus price target of $179.83.

Raymond James Financial Trading Down 0.4%

Raymond James Financial stock opened at $141.58 on Monday. Raymond James Financial has a one year low of $117.57 and a one year high of $177.66. The company’s fifty day moving average price is $154.01 and its two-hundred day moving average price is $160.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. The company has a market capitalization of $27.90 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.07 and a beta of 1.00.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the company earned $2.93 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 21.14%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently made changes to their positions in RJF. Empowered Funds LLC grew its position in shares of Raymond James Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares during the last quarter. Woodline Partners LP grew its position in shares of Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 4,592 shares during the last quarter. Lido Advisors LLC acquired a new stake in shares of Raymond James Financial in the second quarter valued at about $212,000. EverSource Wealth Advisors LLC grew its position in shares of Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 685 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Raymond James Financial by 15.1% in the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 298 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

About Raymond James Financial

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.