Raymond James (NYSE:RJF) Price Target Raised to $133.00 at TD Cowen

Raymond James (NYSE:RJF) had its price target lifted by TD Cowen from $130.00 to $133.00 in a research report report published on Monday, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Bank of America lowered their price objective on Raymond James from $145.00 to $141.00 and set a buy rating for the company in a research note on Thursday, April 25th. JMP Securities reaffirmed a market perform rating on shares of Raymond James in a research report on Tuesday, April 9th. Citigroup increased their price target on Raymond James from $112.00 to $132.00 and gave the company a neutral rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods decreased their price target on Raymond James from $132.00 to $131.00 and set a market perform rating for the company in a research report on Thursday, April 25th. Finally, Wolfe Research reissued a peer perform rating on shares of Raymond James in a research report on Monday. Ten investment 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.com, the stock presently has an average rating of Hold and an average target price of $129.89.

Raymond James Stock Up 0.8 %

Shares of NYSE:RJF opened at $120.70 on Monday. The business’s 50 day simple moving average is $122.02 and its two-hundred day simple moving average is $119.73. The firm has a market cap of $25.02 billion, a P/E ratio of 14.59, a PEG ratio of 0.80 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 EPS. As a group, research analysts forecast that Raymond James will post 9.54 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Transactions at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Several institutional investors have recently added to or reduced their stakes in the business. Drive Wealth Management LLC boosted its stake in Raymond James by 3.4% during the 1st quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 85 shares during the last quarter. Steph & Co. lifted its holdings in shares of Raymond James by 9.3% during the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after buying an additional 91 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after buying an additional 93 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock valued at $97,000 after buying an additional 96 shares during the period. Finally, Oarsman Capital Inc. lifted its holdings in shares of Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after buying an additional 99 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.