Raymond James (NYSE:RJF) PT Raised to $123.00 at Jefferies Financial Group

Raymond James (NYSE:RJF) had its price target lifted by Jefferies Financial Group from $122.00 to $123.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Several other analysts also recently issued reports on the stock. JMP Securities reissued a market perform rating on shares of Raymond James in a research note on Tuesday, April 9th. Citigroup boosted their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Wolfe Research reissued a peer perform rating on shares of Raymond James in a research note on Monday. TD Cowen boosted their target price on shares of Raymond James from $130.00 to $133.00 and gave the company a hold rating in a research note on Monday. Finally, Bank of America cut their target price on shares of Raymond James from $145.00 to $141.00 and set a buy rating on the stock in a research note on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Raymond James currently has an average rating of Hold and an average target price of $129.89.

Raymond James Price Performance

Shares of NYSE:RJF opened at $120.70 on Monday. Raymond James has a one year low of $91.67 and a one year high of $131.19. The stock has a fifty day moving average of $122.02 and a 200-day moving average of $119.73. The company has a market capitalization of $25.02 billion, a PE ratio of 14.59, a price-to-earnings-growth 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 (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 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 17.94%. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the company posted $2.03 EPS. Raymond James’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James will post 9.54 EPS for the current fiscal year.

Raymond James Announces Dividend

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Avity Investment Management Inc. raised its position in Raymond James by 11.9% in the second quarter. Avity Investment Management Inc. now owns 161,594 shares of the financial services provider’s stock worth $19,975,000 after purchasing an additional 17,160 shares in the last quarter. CX Institutional increased its holdings in shares of Raymond James by 20.3% during the second quarter. CX Institutional now owns 2,220 shares of the financial services provider’s stock worth $274,000 after buying an additional 375 shares in the last quarter. Simplicity Wealth LLC increased its holdings in shares of Raymond James by 62.0% during the second quarter. Simplicity Wealth LLC now owns 4,218 shares of the financial services provider’s stock worth $521,000 after buying an additional 1,615 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Raymond James by 15.5% during the second quarter. Valeo Financial Advisors LLC now owns 1,809 shares of the financial services provider’s stock worth $224,000 after buying an additional 243 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Raymond James by 1.4% during the second quarter. CWM LLC now owns 11,528 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 156 shares in the last quarter. 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.