Raymond James Financial (NYSE:RJF) Price Target Raised to $165.00

Raymond James Financial (NYSE:RJF) had its price target upped by BMO Capital Markets from $152.00 to $165.00 in a research note published on Thursday morning, Marketbeat reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other equities analysts have also commented on the company. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. UBS Group reduced their price objective on Raymond James Financial from $176.00 to $158.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research note on Wednesday, January 14th. Morgan Stanley dropped their target price on Raymond James Financial from $187.00 to $171.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Finally, Barclays restated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and a consensus price target of $173.17.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $153.48 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The firm has a market cap of $30.25 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.17 and a beta of 1.00. The business’s fifty day moving average is $149.88 and its two-hundred day moving average is $158.55. Raymond James Financial has a 52 week low of $133.89 and a 52 week high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.42 earnings per share. Equities research analysts forecast that Raymond James Financial will post 11.71 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is currently 21.14%.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the company’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 completion of the sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RJF. West Branch Capital LLC bought a new stake in Raymond James Financial in the third quarter valued at about $26,000. Reflection Asset Management bought a new stake in Raymond James Financial in the fourth quarter valued at about $28,000. Salomon & Ludwin LLC bought a new stake in Raymond James Financial in the third quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial in the fourth quarter valued at about $32,000. Finally, Quent Capital LLC bought a new stake in Raymond James Financial in the third quarter valued at about $33,000. Institutional investors own 83.83% of the company’s stock.

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.