Analysts Set Raymond James (NYSE:RJF) Target Price at $153.82

Shares of Raymond James (NYSE:RJF) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $153.82.

Several analysts have issued reports on RJF shares. JPMorgan Chase & Co. dropped their target price on Raymond James from $149.00 to $143.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. 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. Citigroup dropped their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Bank of America cut Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Finally, JMP Securities restated a “market outperform” rating and issued a $175.00 target price on shares of Raymond James in a report on Thursday, April 24th.

Raymond James Stock Up 0.6%

Shares of RJF opened at $153.93 on Wednesday. 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 has a one year low of $104.24 and a one year high of $174.32. The stock has a market capitalization of $31.06 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.90 and a beta of 1.02. The stock has a 50 day moving average price of $139.29 and a 200 day moving average price of $152.50.

Raymond James (NYSE:RJF) last issued its quarterly 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). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.30%. The ex-dividend date was Tuesday, April 1st. Raymond James’s payout ratio is 19.25%.

Insider Buying and Selling

In other news, insider James E. Bunn sold 3,650 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP grew its stake in Raymond James by 41.8% during the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after buying an additional 4,592 shares during the last quarter. Empowered Funds LLC raised its holdings in Raymond James by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 314 shares during the last quarter. MBB Public Markets I LLC purchased a new position in Raymond James during the first quarter worth $309,000. United Services Automobile Association purchased a new position in Raymond James during the first quarter worth $605,000. Finally, Sciencast Management LP purchased a new stake in shares of Raymond James in the first quarter valued at $1,589,000. Hedge funds and other 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.