Raymond James (NYSE:RJF) Reaches New 12-Month High – Time to Buy?

Raymond James (NYSE:RJF) shares hit a new 52-week high on Tuesday . The company traded as high as $134.53 and last traded at $133.49, with a volume of 189598 shares. The stock had previously closed at $130.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RJF shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. TD Cowen raised their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. The Goldman Sachs Group decreased their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, JMP Securities upgraded Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price target on the stock in a research report on Wednesday, October 9th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average target price of $133.36.

Raymond James Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The business has a 50-day simple moving average of $120.38 and a 200 day simple moving average of $120.76. The firm has a market cap of $28.04 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 0.88 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the previous year, the firm earned $1.85 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Raymond James will post 9.57 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is currently 20.29%.

Insider Activity at Raymond James

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC increased its holdings in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP purchased a new stake in shares of Raymond James in the second quarter worth $29,000. Smithfield Trust Co raised its position in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd lifted its stake in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in Raymond James in the 3rd quarter worth $32,000. Institutional investors own 83.83% of the company’s stock.

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.