Raymond James (NYSE:RJF) Price Target Raised to $152.00 at Wells Fargo & Company

Raymond James (NYSE:RJF) had its price target hoisted by Wells Fargo & Company from $140.00 to $152.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. UBS Group reduced their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. The Goldman Sachs Group upped their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen increased their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, JMP Securities upgraded Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 target price on the stock in a research report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Raymond James has an average rating of “Hold” and a consensus target price of $137.36.

Raymond James Stock Down 1.7 %

Shares of NYSE:RJF opened at $144.91 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 52-week low of $93.91 and a 52-week high of $148.68. The stock’s fifty day simple moving average is $124.23 and its 200-day simple moving average is $121.28. The company has a market capitalization of $30.04 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.95 and a beta of 1.02.

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. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the prior year, the business earned $2.13 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts forecast that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.24%. Raymond James’s dividend payout ratio is presently 21.77%.

Insiders Place Their Bets

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This trade 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.

Institutional Investors Weigh In On Raymond James

A number of hedge funds have recently bought and sold shares of the business. Heritage Wealth Advisors lifted its holdings in Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after buying an additional 474,622 shares during the last quarter. AGF Management Ltd. lifted its holdings in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares during the last quarter. SG Americas Securities LLC raised its stake in Raymond James by 820.2% during the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock valued at $25,388,000 after acquiring an additional 176,210 shares in the last quarter. Avity Investment Management Inc. bought a new stake in Raymond James during the 1st quarter valued at $18,548,000. Finally, Earnest Partners LLC raised its stake in Raymond James by 5.9% during the 1st quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock valued at $316,966,000 after acquiring an additional 138,075 shares in the last quarter. Institutional investors and hedge funds 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.