Raymond James (NYSE:RJF) Price Target Cut to $175.00 by Analysts at JMP Securities

Raymond James (NYSE:RJF) had its target price cut by JMP Securities from $190.00 to $175.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.

RJF has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup reduced their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company raised their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $160.27.

Raymond James Stock Performance

Raymond James stock opened at $124.70 on Tuesday. The company has a 50 day moving average price of $148.66 and a 200-day moving average price of $151.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a market capitalization of $25.55 billion, a PE ratio of 12.17, a P/E/G ratio of 0.90 and a beta of 0.94.

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

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is currently 19.51%.

Institutional Trading of Raymond James

Large investors have recently made changes to their positions in the company. TCTC Holdings LLC boosted its holdings in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of 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 worth $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 217 shares in the last quarter. Quarry LP grew its position in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Covestor Ltd raised its stake in Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 122 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.