Brokerages Set Raymond James (NYSE:RJF) Target Price at $142.45

Shares of Raymond James (NYSE:RJF) have been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $142.45.

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. 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. Bank of America upped their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, JMP Securities upped their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th.

Raymond James Stock Performance

RJF opened at $150.86 on Friday. The business has a fifty day simple moving average of $154.77 and a 200-day simple moving average of $130.93. The firm has a market cap of $30.78 billion, a PE ratio of 15.54, a P/E/G ratio of 0.91 and a beta of 1.00. 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 fifty-two week low of $104.24 and a fifty-two week high of $171.38.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the business posted $2.13 EPS. Raymond James’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.33%. Raymond James’s dividend payout ratio is 20.60%.

Insider Activity at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the business’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 completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,621 shares of company stock valued at $10,729,488. Insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Raymond James by 105.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after buying an additional 15,940 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Raymond James by 5.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,848 shares of the financial services provider’s stock worth $599,000 after acquiring an additional 256 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Raymond James by 31.0% in the second quarter. Blue Trust Inc. now owns 3,510 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 830 shares during the last quarter. &PARTNERS bought a new position in Raymond James during the second quarter worth $314,000. Finally, New York State Teachers Retirement System boosted its holdings in Raymond James by 4.6% in the 2nd quarter. New York State Teachers Retirement System now owns 224,518 shares of the financial services provider’s stock valued at $27,753,000 after purchasing an additional 9,852 shares during the period. Institutional investors own 83.83% of the company’s stock.

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.