JMP Securities Cuts Raymond James (NYSE:RJF) Price Target to $175.00

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

A number of other analysts have also recently issued reports on RJF. Morgan Stanley boosted their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Wells Fargo & Company increased their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Citigroup reduced their target price on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Bank of America raised their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group decreased their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Nine 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.com, Raymond James currently has a consensus rating of “Hold” and an average target price of $160.27.

Raymond James Stock Performance

Shares of RJF stock opened at $132.15 on Tuesday. The firm has a market capitalization of $27.08 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The company has a 50 day moving average price of $146.66 and a 200 day moving average price of $151.06. Raymond James has a one year low of $104.24 and a one year high of $174.32. 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 (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Sell-side analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Hedge Funds Weigh In On Raymond James

A number of institutional investors have recently made changes to their positions in RJF. TCTC Holdings LLC raised 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 acquiring an additional 106 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James in the 1st quarter valued at about $25,000. Y.D. More Investments Ltd lifted its position in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd grew its stake in Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 217 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock valued at $52,000 after buying an additional 122 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

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.