Investors sold shares of Raymond James (NYSE:RJF) on strength during trading on Friday. $21.19 million flowed into the stock on the tick-up and $68.41 million flowed out of the stock on the tick-down, for a money net flow of $47.22 million out of the stock. Of all equities tracked, Raymond James had the 33rd highest net out-flow for the day. Raymond James traded up $0.39 for the day and closed at $89.19
Several research firms recently issued reports on RJF. Citigroup boosted their target price on shares of Raymond James from $87.00 to $93.00 and gave the company a “neutral” rating in a report on Monday. ValuEngine upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Wells Fargo & Co boosted their target price on shares of Raymond James from $92.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Zacks Investment Research upgraded shares of Raymond James from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Thursday, April 4th. Finally, Compass Point began coverage on shares of Raymond James in a report on Monday, March 11th. They issued a “buy” rating and a $96.00 target price on the stock. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $94.63.
The firm has a market cap of $12.58 billion, a PE ratio of 13.79 and a beta of 1.55. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48.
Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06. Raymond James had a net margin of 12.79% and a return on equity of 15.86%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Raymond James will post 7.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.52%. Raymond James’s dividend payout ratio is currently 21.02%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cozad Asset Management Inc. raised its holdings in shares of Raymond James by 60.5% during the first quarter. Cozad Asset Management Inc. now owns 20,100 shares of the financial services provider’s stock valued at $1,616,000 after purchasing an additional 7,575 shares during the period. Gulf International Bank UK Ltd raised its holdings in shares of Raymond James by 1.5% during the first quarter. Gulf International Bank UK Ltd now owns 29,628 shares of the financial services provider’s stock valued at $2,382,000 after purchasing an additional 450 shares during the period. Oakbrook Investments LLC raised its holdings in shares of Raymond James by 88.1% during the first quarter. Oakbrook Investments LLC now owns 13,110 shares of the financial services provider’s stock valued at $1,054,000 after purchasing an additional 6,140 shares during the period. Empire Life Investments Inc. raised its holdings in shares of Raymond James by 14.5% during the first quarter. Empire Life Investments Inc. now owns 6,085 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 771 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Raymond James during the first quarter valued at about $694,000. Hedge funds and other institutional investors own 71.58% of the company’s stock.
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Raymond James Company Profile (NYSE:RJF)
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.
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