Brokerages Set Raymond James (NYSE:RJF) PT at $120.50

Shares of Raymond James (NYSE:RJF) have been given a consensus rating of “Hold” by the nine brokerages that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $123.88.

A number of equities analysts have weighed in on the company. TD Cowen boosted their target price on Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Citigroup increased their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and increased their target price for the company from $110.00 to $135.00 in a report on Wednesday, January 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $116.00 price objective (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd.

Insiders Place Their Bets

In other news, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction on Friday, February 9th. The stock was bought at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Raymond James in the 4th quarter worth approximately $30,000. Advisors Asset Management Inc. purchased a new stake in shares of Raymond James during the 3rd quarter valued at about $30,000. OLD Point Trust & Financial Services N A bought a new position in shares of Raymond James in the 4th quarter valued at about $33,000. Future Financial Wealth Managment LLC purchased a new position in Raymond James in the first quarter worth about $33,000. Finally, Covestor Ltd increased its stake in Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 0.0 %

RJF stock opened at $122.52 on Tuesday. The business has a 50 day moving average of $121.54 and a 200 day moving average of $111.10. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market cap of $25.61 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.15. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. On average, research analysts forecast that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 22.56%.

About Raymond James

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.