Raymond James (NYSE:RJF) Receives $153.82 Average Price Target from Brokerages

Shares of Raymond James (NYSE:RJF) have earned a consensus recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $153.82.

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Bank of America downgraded Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their target price on shares of Raymond James from $149.00 to $143.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company decreased their target price on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $175.00 target price on shares of Raymond James in a research note on Thursday, April 24th.

Raymond James Stock Performance

Shares of Raymond James stock opened at $146.87 on Friday. The firm has a fifty day moving average of $141.19 and a two-hundred day moving average of $151.21. The stock has a market capitalization of $29.63 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.90 and a beta of 1.03. Raymond James has a 52 week low of $104.24 and a 52 week 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 issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.31 EPS. As a group, equities research analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.36%. Raymond James’s payout ratio is currently 19.25%.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider now directly owns 78,227 shares of the company’s stock, valued at $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider now directly owns 74,586 shares of the company’s stock, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James

Hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James during the first quarter valued at $25,000. TCTC Holdings LLC grew its position 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 purchasing an additional 106 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Raymond James during the first quarter valued at about $27,000. Golden State Wealth Management LLC grew its position in shares of Raymond James by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new position in shares of Raymond James during the first quarter valued at about $33,000. Institutional investors own 83.83% of the company’s stock.

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.