Raymond James (NYSE:RJF) Price Target Raised to $190.00 at JMP Securities

Raymond James (NYSE:RJF) had its price target lifted by JMP Securities from $175.00 to $190.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. Citigroup raised their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $166.00 target price (up previously from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. Jefferies Financial Group raised their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company upped their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $166.09.

Raymond James Stock Performance

Shares of RJF stock opened at $170.51 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $162.29 and a two-hundred day simple moving average of $139.61. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The firm has a market capitalization of $34.85 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. Analysts forecast that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Insider Buying and Selling

In related news, 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 sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wolff Wiese Magana LLC lifted its position in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the period. Quarry LP purchased a new stake in Raymond James during the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new position in Raymond James in the 3rd quarter worth about $32,000. Finally, Gladius Capital Management LP purchased a new position in Raymond James during the 3rd quarter valued at about $34,000. 83.83% of the stock is currently owned by hedge funds and other 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.