Raymond James (NYSE:RJF) Price Target Lowered to $131.00 at Keefe, Bruyette & Woods

Raymond James (NYSE:RJF) had its price objective reduced by Keefe, Bruyette & Woods from $132.00 to $131.00 in a report issued on Thursday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on RJF. Jefferies Financial Group reaffirmed a hold rating and set a $117.00 price objective (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Citigroup increased their target price on Raymond James from $112.00 to $132.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. UBS Group dropped their price target on Raymond James from $116.00 to $115.00 and set a neutral rating on the stock in a research report on Thursday, January 25th. JMP Securities reissued a market perform rating on shares of Raymond James in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised Raymond James from a neutral rating to an overweight rating and increased their price target for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $126.22.

Raymond James Price Performance

RJF opened at $121.95 on Thursday. The stock has a 50-day moving average price of $123.04 and a 200-day moving average price of $112.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a market cap of $25.49 billion, a PE ratio of 14.75, a P/E/G 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 released its quarterly 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). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 earnings per share. Sell-side analysts predict that Raymond James will post 9.45 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

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

Insider Buying and Selling

In other Raymond James news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of 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 SEC, which is accessible through the SEC website. Also, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Raymond James

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Drive Wealth Management LLC raised its holdings in Raymond James by 3.4% during the first quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 85 shares during the last quarter. Steph & Co. raised its holdings in Raymond James by 9.3% during the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 91 shares during the last quarter. Federated Hermes Inc. increased its position in Raymond James by 12.4% during the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after buying an additional 96 shares in the last quarter. Oarsman Capital Inc. increased its position in Raymond James by 0.9% during the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after buying an additional 99 shares in the last quarter. Finally, Addison Advisors LLC increased its position in 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 buying an additional 103 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

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.