Raymond James (NYSE:RJF) Price Target Lowered to $135.00 at UBS Group

Raymond James (NYSE:RJF) had its price target cut by UBS Group from $138.00 to $135.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on RJF. JMP Securities reaffirmed a market perform rating on shares of Raymond James in a research note on Tuesday, April 9th. TD Cowen lifted their price objective on Raymond James from $130.00 to $133.00 and gave the stock a hold rating in a research note on Monday. Morgan Stanley boosted their target price on Raymond James from $113.00 to $123.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Jefferies Financial Group boosted their target price on Raymond James from $122.00 to $123.00 and gave the company a hold rating in a research report on Monday. Finally, Keefe, Bruyette & Woods cut their target price on Raymond James from $132.00 to $131.00 and set a market perform rating on the stock in a research report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Raymond James has an average rating of Hold and an average target price of $129.89.

Raymond James Stock Up 1.0 %

NYSE RJF opened at $118.69 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. 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 is $122.14 and its 200 day moving average is $119.72. The stock has a market cap of $24.60 billion, a PE ratio of 14.35, a P/E/G ratio of 0.81 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm earned $2.03 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Research analysts predict that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Raymond James

Institutional investors have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board increased its stake in shares of Raymond James by 4.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock valued at $628,000 after buying an additional 240 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Raymond James by 86.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock valued at $493,000 after buying an additional 2,047 shares during the period. Hsbc Holdings PLC increased its stake in shares of Raymond James by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after buying an additional 89,981 shares during the period. BNP Paribas Financial Markets boosted its position in Raymond James by 44.5% during the fourth quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock valued at $12,349,000 after purchasing an additional 34,101 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Raymond James by 26.0% during the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock valued at $16,668,000 after purchasing an additional 34,200 shares in the last quarter. Hedge funds and other 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.