Raymond James (NYSE:RJF) Hits New 12-Month High at $129.43

Raymond James (NYSE:RJFGet Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $129.43 and last traded at $128.75, with a volume of 39260 shares trading hands. The stock had previously closed at $128.52.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RJF shares. Morgan Stanley increased their price target on Raymond James from $106.00 to $113.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $116.00 price target (down from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. UBS Group lowered their price target on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $117.00 target price (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $120.50.

Get Our Latest Stock Report on RJF

Raymond James Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The stock’s fifty day moving average is $119.30 and its 200 day moving average is $109.73. The stock has a market cap of $27.09 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.06 and a beta of 1.05.

Raymond James (NYSE:RJFGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.15. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.29 earnings per share. As a group, equities research analysts predict that Raymond James will post 9.2 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, March 28th. Raymond James’s payout ratio is currently 22.56%.

Insider Activity

In other news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Several institutional investors have recently bought and sold shares of RJF. Turtle Creek Wealth Advisors LLC purchased a new position in Raymond James during the fourth quarter valued at approximately $30,000. Advisors Asset Management Inc. purchased a new position in Raymond James during the third quarter valued at approximately $30,000. OLD Point Trust & Financial Services N A purchased a new position in Raymond James during the fourth quarter valued at approximately $33,000. Covestor Ltd increased its holdings in Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after buying an additional 138 shares during the period. Finally, Clear Street Markets LLC increased its holdings in Raymond James by 95.9% during the first quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock valued at $36,000 after buying an additional 187 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

About Raymond James

(Get Free Report)

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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