Raymond James (NYSE:RJF) Receives $166.09 Consensus Price Target from Brokerages

Raymond James (NYSE:RJF) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $166.09.

RJF has been the subject of several research reports. JMP Securities boosted their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their price target on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th.

Raymond James Stock Up 0.6 %

Shares of Raymond James stock opened at $165.67 on Monday. The stock has a market capitalization of $33.86 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The company has a 50-day simple moving average of $162.16 and a two-hundred day simple moving average of $141.27.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. On average, analysts anticipate that Raymond James will post 11.16 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of Raymond James

A number of large investors have recently added to or reduced their stakes in RJF. Wolff Wiese Magana LLC grew its holdings in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Quarry LP bought a new stake in shares of Raymond James in the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the 3rd quarter valued at about $32,000. Finally, Gladius Capital Management LP bought a new position in shares of Raymond James in the 3rd quarter valued at about $34,000. Institutional investors own 83.83% of the company’s stock.

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.