Analysts Set Raymond James (NYSE:RJF) Price Target at $126.22

Shares of Raymond James (NYSE:RJF) have received an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $126.22.

RJF has been the subject of a number of analyst reports. Citigroup boosted their price target on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Bank of America reduced their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. UBS Group lowered their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Morgan Stanley increased their price target on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th.

Insider Transactions at Raymond James

In related news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Large investors have recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James in the fourth quarter worth approximately $30,000. Smithfield Trust Co lifted its holdings in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the 4th quarter valued at $33,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 1st quarter valued at $33,000. Finally, Addison Advisors LLC increased its stake in Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 103 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Price Performance

NYSE:RJF opened at $125.39 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The firm has a market cap of $26.21 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.85 and a beta of 1.03. Raymond James has a 52 week low of $84.06 and a 52 week high of $131.19. The firm’s 50-day simple moving average is $124.00 and its 200 day simple moving average is $113.97.

Raymond James (NYSE:RJF) last issued 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 company 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. As a group, sell-side analysts predict that Raymond James will post 9.56 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

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.