Raymond James (NYSE:RJF) Reaches New 52-Week High – What’s Next?

Raymond James (NYSE:RJF) reached a new 52-week high during trading on Tuesday . The company traded as high as $134.53 and last traded at $133.49, with a volume of 189598 shares. The stock had previously closed at $130.16.

Analyst Ratings Changes

RJF has been the subject of several recent analyst reports. TD Cowen upped their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company increased their price objective on shares of Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $133.36.

Raymond James Stock Performance

The firm has a market capitalization of $28.04 billion, a PE ratio of 15.35, a P/E/G ratio of 0.88 and a beta of 1.02. The business has a 50-day simple moving average of $120.38 and a 200-day simple moving average of $120.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. Raymond James’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. Equities research analysts expect that Raymond James will post 9.57 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, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.32%. Raymond James’s dividend payout ratio (DPR) is presently 20.29%.

Insider Activity at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Raymond James

Hedge funds have recently added to or reduced their stakes in the stock. Cardinal Capital Management boosted its holdings in shares of Raymond James by 2.9% in the third quarter. Cardinal Capital Management now owns 32,106 shares of the financial services provider’s stock valued at $3,932,000 after purchasing an additional 907 shares during the period. nVerses Capital LLC bought a new stake in Raymond James during the 3rd quarter valued at $1,041,000. Wolff Wiese Magana LLC raised its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Raymond James by 5.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,440 shares of the financial services provider’s stock worth $299,000 after buying an additional 137 shares during the period. Finally, Bill Few Associates Inc. grew its position in shares of Raymond James by 94.3% during the 3rd quarter. Bill Few Associates Inc. now owns 10,095 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 4,900 shares in the last quarter. 83.83% of the stock is currently owned by 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.