Raymond James (NYSE:RJF) Price Target Raised to $142.00

Raymond James (NYSE:RJF) had its price objective hoisted by The Goldman Sachs Group from $125.00 to $142.00 in a research report released on Thursday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

RJF has been the topic of a number of other research reports. Jefferies Financial Group lifted their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company upped their price objective on Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Finally, JMP Securities upgraded shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price target for the company in a research note on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $137.36.

Raymond James Trading Down 1.7 %

NYSE:RJF opened at $144.91 on Thursday. The company has a market cap of $30.04 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. Raymond James has a twelve month low of $93.91 and a twelve month high of $148.68. The business has a 50 day moving average price of $124.23 and a two-hundred day moving average price of $121.28. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 21.77%.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ballentine Partners LLC bought a new stake in shares of Raymond James during the 1st quarter worth approximately $234,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the 1st quarter valued at $33,000. Avity Investment Management Inc. acquired a new position in shares of Raymond James during the 1st quarter worth $18,548,000. Cornerstone Wealth Group LLC bought a new stake in shares of Raymond James during the 1st quarter worth $296,000. Finally, Norden Group LLC boosted its stake in Raymond James by 3,257.7% in the first quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,419 shares in the last quarter. Institutional investors and hedge funds 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.