Raymond James (NYSE:RJF) Price Target Raised to $145.00

Raymond James (NYSE:RJF) had its price target boosted by Morgan Stanley from $132.00 to $145.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also issued reports on RJF. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. UBS Group lowered their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. JMP Securities lifted their price target on shares of 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 boosted their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Raymond James presently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Trading Down 0.6 %

RJF opened at $148.22 on Tuesday. Raymond James has a fifty-two week low of $94.53 and a fifty-two week high of $151.59. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $126.85 and a 200 day simple moving average of $122.01.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that Raymond James will post 10.32 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.21%. Raymond James’s payout ratio is presently 18.54%.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Raymond James

Several hedge funds have recently modified their holdings of RJF. Wolff Wiese Magana LLC raised its holdings in 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. Quarry LP bought a new stake in shares of Raymond James during the 2nd quarter worth approximately $29,000. Smithfield Trust Co boosted its holdings in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the third quarter valued at $32,000. 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.