Raymond James (NYSE:RJF) Price Target Lowered to $126.00 at TD Cowen

Raymond James (NYSE:RJF) had its price objective reduced by TD Cowen from $131.00 to $126.00 in a research report report published on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on RJF. Keefe, Bruyette & Woods cut their target price on shares of Raymond James from $132.00 to $131.00 and set a market perform rating for the company in a research note on Thursday. UBS Group cut their target price on shares of Raymond James from $116.00 to $115.00 and set a neutral rating for the company in a research note on Thursday, January 25th. JMP Securities reiterated a market perform rating on shares of Raymond James in a research note on Tuesday, April 9th. Citigroup boosted their price objective on shares of Raymond James from $112.00 to $132.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upgraded shares of Raymond James from a neutral rating to an overweight rating and boosted their price objective for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $126.22.

Raymond James Stock Down 4.4 %

NYSE RJF opened at $121.95 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $123.04 and its two-hundred day moving average is $112.35. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.89 and a beta of 1.05. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $2.03 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Raymond James will post 9.45 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.48%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insiders Place Their Bets

In other news, Director Art A. Garcia bought 879 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the transaction, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. Insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

A number of hedge funds and other institutional investors have recently modified their holdings of RJF. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Raymond James during the fourth quarter worth $30,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Raymond James during the fourth quarter worth $33,000. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James during the first quarter worth $33,000. Addison Advisors LLC lifted its holdings in shares of Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares during the period. Finally, CVA Family Office LLC acquired a new position in Raymond James in the fourth quarter valued at $50,000. 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.