Raymond James (NYSE:RJF) PT Lowered to $126.00

Raymond James (NYSE:RJF) had its price target trimmed by TD Cowen from $131.00 to $126.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

RJF has been the topic of several other reports. JPMorgan Chase & Co. raised shares of Raymond James from a neutral rating to an overweight rating and raised their price objective for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Citigroup lifted their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a neutral rating in a report on Thursday, April 11th. The Goldman Sachs Group reaffirmed a neutral rating and issued a $116.00 target price (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of Raymond James from $132.00 to $131.00 and set a market perform rating for the company in a research note on Thursday. Finally, JMP Securities reiterated a market perform rating on shares of Raymond James in a research note on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $126.22.

Raymond James Stock Performance

Raymond James stock opened at $121.95 on Thursday. The firm has a 50 day simple moving average of $123.04 and a 200-day simple moving average of $112.35. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the business posted $2.03 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that Raymond James will post 9.45 EPS for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.48%. Raymond James’s dividend payout ratio (DPR) is 21.77%.

Insiders Place Their Bets

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Art A. Garcia purchased 879 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, 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. 9.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Raymond James

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James during the 4th quarter valued at about $30,000. OLD Point Trust & Financial Services N A bought a new position in shares of Raymond James during the 4th quarter valued at about $33,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the 1st quarter valued at about $33,000. Addison Advisors LLC lifted its stake in Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after buying an additional 103 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in Raymond James during the fourth quarter valued at about $50,000. 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.