Raymond James (NYSE:RJF) Receives $142.45 Average Target Price from Analysts

Shares of Raymond James (NYSE:RJF) have been assigned an average recommendation of “Hold” from the twelve analysts that are covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $142.45.

RJF has been the subject of several recent research reports. TD Cowen increased their price target 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. Morgan Stanley raised their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities increased their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company restated an “equal weight” rating and issued a $169.00 target price (up previously from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. Finally, Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last quarter. Corporate insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. State Street Corp boosted its holdings in Raymond James by 0.7% during the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after buying an additional 54,265 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after buying an additional 12,869 shares during the period. AGF Management Ltd. increased its stake 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 valued at $318,972,000 after acquiring an additional 378,033 shares during the last quarter. Finally, Earnest Partners LLC raised its position in shares of Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after acquiring an additional 37,173 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of RJF stock opened at $150.86 on Friday. The company has a market capitalization of $30.78 billion, a P/E ratio of 15.54, a P/E/G ratio of 0.91 and a beta of 1.00. 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 has a 12 month low of $104.24 and a 12 month high of $171.38. The stock has a 50 day moving average of $154.77 and a two-hundred day moving average of $130.93.

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, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the company earned $2.13 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts expect that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The business also recently declared 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. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s dividend payout ratio is 20.60%.

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.