Raymond James (NYSE:RJF) Receives $142.45 Consensus PT from Brokerages

Raymond James (NYSE:RJF) has been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $146.00.

RJF has been the topic of several analyst reports. Bank of America boosted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. JMP Securities raised their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $169.00 target price (up from $152.00) on shares of Raymond James in a report on Thursday, December 12th. Finally, Morgan Stanley increased their target price on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th.

Raymond James Stock Up 2.8 %

RJF stock opened at $155.05 on Friday. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The business has a 50-day simple moving average of $155.28 and a 200 day simple moving average of $131.17. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market cap of $31.64 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the firm posted $2.13 EPS. The firm’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts anticipate that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

Insider Activity at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,621 shares of company stock valued at $10,729,488. Corporate insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Franklin Resources Inc. boosted its holdings in shares of Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after purchasing an additional 9,217 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after buying an additional 7,028 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Raymond James in the 3rd quarter worth approximately $3,561,000. XTX Topco Ltd boosted its stake in Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 6,649 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Raymond James by 105.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after acquiring an additional 15,940 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other 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.