Analysts Set Raymond James (NYSE:RJF) Target Price at $131.60

Shares of Raymond James (NYSE:RJF) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $131.60.

A number of brokerages have commented on RJF. Wells Fargo & Company began coverage on Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 price objective on the stock. TD Cowen increased their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group reduced their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Finally, Jefferies Financial Group boosted their price objective on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th.

Insider Activity at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new position in Raymond James during the second quarter valued at about $29,000. Covestor Ltd boosted its position in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Smithfield Trust Co grew its holdings in Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the first quarter valued at approximately $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Raymond James in the fourth quarter worth $33,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Up 0.7 %

Shares of NYSE:RJF opened at $124.70 on Tuesday. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The stock’s 50-day moving average price is $117.13 and its two-hundred day moving average price is $120.53. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market cap of $25.85 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.83 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the firm posted $1.85 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts forecast that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

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.