Raymond James (NYSE:RJF) Price Target Lowered to $143.00 at JPMorgan Chase & Co.

Raymond James (NYSE:RJF) had its price objective cut by JPMorgan Chase & Co. from $149.00 to $143.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on RJF. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Cowen reaffirmed a “hold” rating on shares of Raymond James in a report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $175.00 price target on shares of Raymond James in a research note on Thursday. Keefe, Bruyette & Woods raised their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.64.

Raymond James Stock Performance

NYSE RJF opened at $137.23 on Thursday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a fifty day moving average of $140.90 and a 200-day moving average of $151.59. The company has a market capitalization of $28.12 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. During the same period last year, the firm earned $2.31 EPS. As a group, equities research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.46%. Raymond James’s dividend payout ratio (DPR) is presently 19.25%.

Institutional Trading of Raymond James

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Raymond James by 2.2% in the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after purchasing an additional 137,277 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Raymond James by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after buying an additional 40,576 shares during the period. Earnest Partners LLC boosted its position in Raymond James by 1.0% during the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock valued at $393,554,000 after acquiring an additional 24,195 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Raymond James by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock valued at $378,276,000 after acquiring an additional 192,904 shares in the last quarter. 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.