JMP Securities Reiterates Market Perform Rating for Raymond James (NYSE:RJF)

JMP Securities restated their market perform rating on shares of Raymond James (NYSE:RJF) in a research note published on Tuesday morning, Benzinga reports.

RJF has been the subject of a number of other reports. Jefferies Financial Group reaffirmed a hold rating and set a $117.00 price target (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. UBS Group decreased their price target on Raymond James from $116.00 to $115.00 and set a neutral rating for the company in a research report on Thursday, January 25th. StockNews.com downgraded Raymond James from a buy rating to a hold rating in a research report on Friday, February 9th. The Goldman Sachs Group reaffirmed a neutral rating and set a $116.00 price target (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. raised Raymond James from a neutral rating to an overweight rating and increased their price objective for the company from $110.00 to $135.00 in a report on Wednesday, January 10th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Raymond James has a consensus rating of Hold and a consensus price target of $123.88.

Raymond James Stock Performance

Shares of Raymond James stock opened at $124.43 on Tuesday. The company has a market cap of $26.01 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.90 and a beta of 1.05. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. The business has a 50 day moving average price of $121.13 and a 200-day moving average price of $110.65. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. Raymond James’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. Equities analysts anticipate that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, March 28th. Raymond James’s payout ratio is currently 22.56%.

Insider Transactions at Raymond James

In related news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Several large investors have recently added to or reduced their stakes in RJF. Wellington Management Group LLP boosted its stake in Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after buying an additional 2,510,966 shares during the period. Norges Bank bought a new stake in Raymond James during the fourth quarter valued at $238,830,000. JPMorgan Chase & Co. boosted its stake in Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock valued at $641,330,000 after buying an additional 1,448,047 shares during the period. Thrivent Financial for Lutherans boosted its stake in Raymond James by 214.5% during the first quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock valued at $106,474,000 after buying an additional 778,644 shares during the period. Finally, Morgan Stanley boosted its stake in Raymond James by 35.1% during the fourth quarter. Morgan Stanley now owns 2,278,272 shares of the financial services provider’s stock valued at $243,433,000 after buying an additional 591,327 shares during the period. 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.