Brokerages Set Raymond James (NYSE:RJF) Price Target at $160.27

Shares of Raymond James (NYSE:RJF) have received an average recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $160.27.

A number of equities research analysts recently commented on RJF shares. Wells Fargo & Company reduced their price objective on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. JMP Securities cut their target price on shares of Raymond James from $190.00 to $175.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Bank of America upped their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th.

Raymond James Price Performance

Shares of NYSE RJF opened at $131.01 on Friday. The stock has a 50 day moving average of $142.34 and a two-hundred day moving average of $151.74. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a market cap of $26.85 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, April 1st. Raymond James’s dividend payout ratio is presently 19.51%.

Institutional Investors Weigh In On Raymond James

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James during the first quarter valued at approximately $25,000. TCTC Holdings LLC grew its stake in shares of Raymond James by 176.7% during 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. Y.D. More Investments Ltd boosted its holdings in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Raymond James by 1,142.1% during the 4th 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 during the last quarter. Finally, Covestor Ltd boosted its stake in Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 122 shares during the last quarter. 83.83% of the stock is currently 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.