Raymond James’ (RJF) Peer Perform Rating Reiterated at Wolfe Research

Wolfe Research restated their peer perform rating on shares of Raymond James (NYSE:RJFFree Report) in a research note issued to investors on Monday morning, Marketbeat reports.

Several other analysts have also recently issued reports on the stock. Bank of America lowered their target price on shares of Raymond James from $145.00 to $141.00 and set a buy rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods lowered their price objective on shares of Raymond James from $132.00 to $131.00 and set a market perform rating on the stock in a research report on Thursday, April 25th. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $123.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. TD Cowen lowered their price objective on shares of Raymond James from $131.00 to $126.00 and set a hold rating on the stock in a research report on Thursday, April 25th. Finally, JMP Securities restated a market perform rating on shares of Raymond James in a research report on Tuesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $129.89.

Get Our Latest Analysis on Raymond James

Raymond James Stock Performance

NYSE RJF opened at $119.83 on Monday. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The stock has a market capitalization of $24.84 billion, a PE ratio of 14.49, a P/E/G ratio of 0.80 and a beta of 1.02. The company’s 50 day simple moving average is $122.09 and its two-hundred day simple moving average is $119.72.

Raymond James (NYSE:RJFGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the company earned $2.03 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts predict that Raymond James will post 9.54 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.50%. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Insider Activity at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Trading of Raymond James

Several large investors have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board boosted its position in shares of Raymond James by 3.6% in the third quarter. Public Sector Pension Investment Board now owns 45,202 shares of the financial services provider’s stock worth $4,540,000 after purchasing an additional 1,571 shares during the period. Deutsche Bank AG lifted its holdings in shares of Raymond James by 2.1% in the third quarter. Deutsche Bank AG now owns 471,171 shares of the financial services provider’s stock worth $47,320,000 after buying an additional 9,626 shares in the last quarter. American Century Companies Inc. raised its stake in Raymond James by 26.0% during the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock valued at $16,668,000 after purchasing an additional 34,200 shares in the last quarter. Wellington Management Group LLP raised its stake in Raymond James by 2.2% during the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after purchasing an additional 246,349 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Raymond James by 52.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 192 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Company Profile

(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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