Raymond James (NYSE:RJF) Price Target Raised to $150.00

Raymond James (NYSE:RJF) had its price target lifted by TD Cowen from $128.00 to $150.00 in a research note published on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. JMP Securities lifted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Finally, Bank of America lifted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $140.91.

Raymond James Stock Performance

Shares of RJF stock opened at $144.29 on Wednesday. The company has a market cap of $29.72 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 0.75 and a beta of 1.02. Raymond James has a 52 week low of $97.05 and a 52 week high of $151.59. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $127.40 and a 200-day moving average of $122.16.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the firm posted $2.13 EPS. Raymond James’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 1.25%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

Insider Activity at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors increased its position in shares of Raymond James by 3,480.7% during the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after buying an additional 474,622 shares during the period. Ceredex Value Advisors LLC increased its position in shares of Raymond James by 191.3% during the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares during the period. AGF Management Ltd. increased its position in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares during the period. SG Americas Securities LLC grew its holdings in shares of Raymond James by 820.2% during the first quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after purchasing an additional 176,210 shares in the last quarter. Finally, Earnest Partners LLC grew 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 worth $316,966,000 after purchasing an additional 138,075 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

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.