Raymond James (NYSE:RJF) Price Target Lowered to $141.00 at Bank of America

Raymond James (NYSE:RJF) had its price objective cut by Bank of America from $145.00 to $141.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on RJF. TD Cowen upped their target price on shares of Raymond James from $116.50 to $131.00 and gave the stock a market perform rating in a report on Friday, March 22nd. Citigroup upped their target price on shares of Raymond James from $112.00 to $132.00 and gave the stock a neutral rating in a report on Thursday, April 11th. StockNews.com lowered shares of Raymond James from a buy rating to a hold rating in a report on Friday, February 9th. Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Finally, JMP Securities reiterated a market perform rating on shares of Raymond James in a research report on Tuesday, April 9th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has an average rating of Hold and an average price target of $126.22.

Raymond James Trading Down 4.4 %

Shares of Raymond James stock opened at $121.95 on Thursday. The firm has a market capitalization of $25.49 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The company’s fifty day moving average price is $123.04 and its two-hundred day moving average price is $112.35. Raymond James has a 52-week low of $82.00 and a 52-week high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly 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). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. On average, analysts expect that Raymond James will post 9.45 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Transactions at Raymond James

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

Hedge Funds Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Norges Bank bought a new position in Raymond James during the fourth quarter worth $238,830,000. Dimensional Fund Advisors LP boosted its position in shares of Raymond James by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after acquiring an additional 263,687 shares during the period. Wellington Management Group LLP boosted its position in shares of Raymond James by 2.2% in 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 acquiring an additional 246,349 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Raymond James by 269.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider’s stock valued at $25,923,000 after acquiring an additional 188,305 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Raymond James by 27.4% in the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after acquiring an additional 174,286 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Company Profile

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.