Raymond James’ (RJF) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Raymond James (NYSE:RJF) in a report released on Tuesday, MarketBeat reports. The firm currently has a $166.00 price objective on the financial services provider’s stock, up from their previous price objective of $151.00.

Several other equities research analysts also recently issued reports on the stock. TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price target on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $169.00 price objective (up from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $152.73.

Raymond James Stock Performance

RJF stock opened at $158.83 on Tuesday. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The business’s 50-day moving average price is $159.40 and its two-hundred day moving average price is $134.56. The firm has a market cap of $32.41 billion, a PE ratio of 16.36, a P/E/G ratio of 0.91 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last issued its quarterly earnings data 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. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. Raymond James’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.13 EPS. As a group, research analysts forecast that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 20.60%.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James 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 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 three months, insiders sold 64,621 shares of company stock valued at $10,729,488. 9.74% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Raymond James

Large investors have recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC increased its holdings in shares of Raymond James by 3,960.0% in the third 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 during the last quarter. Quarry LP bought a new stake in shares of Raymond James during the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC acquired a new position in Raymond James in the 3rd quarter valued at about $32,000. Gladius Capital Management LP bought a new position in Raymond James in the 3rd quarter valued at about $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in Raymond James during the third quarter worth approximately $37,000. Institutional investors own 83.83% of the company’s stock.

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.