Raymond James (NYSE:RJF) Price Target Raised to $142.00

Raymond James (NYSE:RJF) had its price target boosted by The Goldman Sachs Group from $125.00 to $142.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on RJF. Wells Fargo & Company raised their price target on shares of Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. UBS Group dropped their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group boosted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.36.

Raymond James Stock Down 0.5 %

NYSE:RJF traded down $0.67 during mid-day trading on Thursday, reaching $146.73. The stock had a trading volume of 238,299 shares, compared to its average volume of 1,135,520. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market capitalization of $30.22 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. Raymond James has a 1-year low of $93.91 and a 1-year high of $148.68. The stock’s 50 day simple moving average is $123.66 and its two-hundred day simple moving average is $121.26.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the business earned $2.13 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts anticipate that Raymond James will post 9.55 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 20.29%.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Heritage Wealth Advisors boosted its position in shares of Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after purchasing an additional 474,622 shares in the last quarter. AGF Management Ltd. boosted its stake in shares of Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Raymond James by 820.2% in the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after acquiring an additional 176,210 shares during the last quarter. Avity Investment Management Inc. acquired a new stake in shares of Raymond James during the first quarter worth $18,548,000. Finally, Earnest Partners LLC lifted its holdings in shares of Raymond James by 5.9% during the first quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock valued at $316,966,000 after purchasing an additional 138,075 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James 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.