Wells Fargo & Company Has Lowered Expectations for Raymond James (NYSE:RJF) Stock Price

Raymond James (NYSE:RJF) had its price objective decreased by Wells Fargo & Company from $169.00 to $168.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. JMP Securities boosted their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, TD Cowen raised their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Nine investment 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $156.09.

Raymond James Stock Up 1.7 %

Shares of NYSE RJF opened at $156.89 on Tuesday. The business’s fifty day moving average price is $160.21 and its 200-day moving average price is $135.54. Raymond James has a one year low of $104.24 and a one year high of $171.38. The stock has a market capitalization of $32.06 billion, a PE ratio of 16.16, a P/E/G ratio of 0.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the business earned $2.13 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts anticipate that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is 20.60%.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,621 shares of company stock worth $10,729,488. Corporate insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after purchasing an additional 9,217 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after buying an additional 7,028 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James in the 3rd quarter valued at about $3,561,000. XTX Topco Ltd boosted its holdings in Raymond James by 390.7% during the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock valued at $1,032,000 after acquiring an additional 6,649 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Raymond James by 109.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after acquiring an additional 58,200 shares during the last quarter. Hedge funds and other 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.