Raymond James (NYSE:RJF) Receives $166.09 Average Price Target from Analysts

Raymond James (NYSE:RJF) has been given an average rating of “Hold” by the twelve research firms that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $166.09.

RJF has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. TD Cowen increased their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Bank of America increased their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th.

Raymond James Stock Performance

NYSE:RJF opened at $167.46 on Monday. The company has a market cap of $34.22 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a fifty day simple moving average of $162.09 and a two-hundred day simple moving average of $142.28.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, equities analysts anticipate that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling at Raymond James

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Raymond James

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. State Street Corp lifted its holdings in Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after purchasing an additional 488,245 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after purchasing an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Raymond James by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider’s stock valued at $167,472,000 after purchasing an additional 13,817 shares during the period. Hedge funds and other 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.