Raymond James (NYSE:RJF) Receives $142.45 Consensus Target Price from Brokerages

Shares of Raymond James (NYSE:RJF) have received an average recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $142.45.

A number of equities analysts have weighed in on the stock. JMP Securities increased their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. TD Cowen raised their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Bank of America increased their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price target on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th.

Raymond James Trading Down 1.6 %

NYSE:RJF opened at $157.90 on Friday. The firm’s 50 day moving average is $153.81 and its 200 day moving average is $130.64. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38. The stock has a market capitalization of $32.22 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

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

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders 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 is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.27%. Raymond James’s payout ratio is presently 20.60%.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last 90 days. 9.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Raymond James

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Raymond James by 105.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock worth $3,834,000 after purchasing an additional 15,940 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Raymond James by 5.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,848 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 256 shares in the last quarter. Blue Trust Inc. raised its position in shares of Raymond James by 31.0% in the 2nd quarter. Blue Trust Inc. now owns 3,510 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 830 shares during the last quarter. &PARTNERS bought a new position in Raymond James in the 2nd quarter worth about $314,000. Finally, New York State Teachers Retirement System grew its position in Raymond James by 4.6% during the 2nd quarter. New York State Teachers Retirement System now owns 224,518 shares of the financial services provider’s stock valued at $27,753,000 after purchasing an additional 9,852 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

About Raymond James

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.