Raymond James (NYSE:RJF) Given New $161.00 Price Target at Morgan Stanley

Raymond James (NYSE:RJF) had its price target boosted by Morgan Stanley from $149.00 to $161.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other research firms also recently issued reports on RJF. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note 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. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $167.55.

Raymond James Stock Down 4.3 %

Shares of NYSE RJF opened at $143.97 on Tuesday. The stock has a fifty day moving average price of $160.60 and a 200 day moving average price of $147.46. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a market cap of $29.50 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last announced its earnings results 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 19.71% and a net margin of 14.06%. Research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated 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 $5,212,755.36. This trade represents a 23.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Several large investors have recently made changes to their positions in RJF. TCTC Holdings LLC increased its holdings in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Gladius Capital Management LP bought a new position in Raymond James in the 3rd quarter valued at about $34,000. Y.D. More Investments Ltd increased its stake in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Raymond James during the 3rd quarter worth about $37,000. Finally, Plato Investment Management Ltd lifted its stake in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds 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.