Raymond James (NYSE:RJF) Price Target Raised to $161.00

Raymond James (NYSE:RJF) had its target price lifted by Morgan Stanley from $149.00 to $161.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on RJF. Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JMP Securities increased their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average target price of $167.55.

Raymond James Price Performance

Shares of Raymond James stock opened at $143.66 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market cap of $29.44 billion, a PE ratio of 14.02, a P/E/G ratio of 0.90 and a beta of 1.04. The business has a 50 day moving average of $160.37 and a 200 day moving average of $147.45. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, equities research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.39%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Insider Transactions at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Large investors have recently bought and sold shares of the business. TCTC Holdings LLC boosted its holdings in Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 106 shares during the period. Gladius Capital Management LP purchased a new position in Raymond James during the 3rd quarter valued at $34,000. Y.D. More Investments Ltd boosted its holdings in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Peterson Financial Group Inc. bought a new stake in Raymond James during the 3rd quarter valued at $37,000. Finally, Plato Investment Management Ltd raised its position in Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 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.