Raymond James (NYSE:RJF) Downgraded by StockNews.com

StockNews.com lowered shares of Raymond James (NYSE:RJFFree Report) from a buy rating to a hold rating in a research note released on Friday.

Several other research analysts also recently weighed in on RJF. The Goldman Sachs Group reiterated a neutral rating and issued a $116.00 price target (down from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. JPMorgan Chase & Co. raised shares of Raymond James from a neutral rating to an overweight rating and upped their price objective for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. Morgan Stanley upped their price objective on shares of Raymond James from $106.00 to $113.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Jefferies Financial Group reaffirmed a hold rating and set a $117.00 price target (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Finally, TD Cowen initiated coverage on shares of Raymond James in a report on Thursday, January 4th. They issued a market perform rating and a $121.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $119.25.

Get Our Latest Stock Analysis on RJF

Raymond James Stock Performance

NYSE RJF opened at $117.03 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $111.06 and its two-hundred day moving average is $105.73. Raymond James has a 12-month low of $82.00 and a 12-month high of $117.86. The stock has a market capitalization of $24.46 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.95 and a beta of 1.03.

Raymond James (NYSE:RJFGet Free Report) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. Raymond James’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 EPS. Research analysts expect that Raymond James will post 9.15 EPS for the current year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. This is a boost from Raymond James’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, December 29th. Raymond James’s dividend payout ratio (DPR) is presently 22.56%.

Insider Buying and Selling

In related news, insider George Catanese sold 3,866 shares of Raymond James stock in a transaction on Monday, December 4th. The shares were sold at an average price of $106.75, for a total value of $412,695.50. Following the transaction, the insider now owns 11,712 shares in the company, valued at approximately $1,250,256. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider George Catanese sold 3,866 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $106.75, for a total transaction of $412,695.50. Following the sale, the insider now owns 11,712 shares of the company’s stock, valued at approximately $1,250,256. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,687 shares of company stock valued at $727,008. Company insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Several hedge funds and other institutional investors have recently bought and sold shares of RJF. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Raymond James during the 4th quarter valued at approximately $30,000. Advisors Asset Management Inc. bought a new stake in shares of Raymond James in the 3rd quarter worth $30,000. OLD Point Trust & Financial Services N A bought a new position in Raymond James during the second quarter valued at about $31,000. RFP Financial Group LLC boosted its position in Raymond James by 160.5% during the second quarter. RFP Financial Group LLC now owns 323 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 199 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.

About Raymond James

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Raymond James (NYSE:RJF)

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