The Goldman Sachs Group Boosts Raymond James (NYSE:RJF) Price Target to $142.00

Raymond James (NYSE:RJF) had its price target boosted by The Goldman Sachs Group from $125.00 to $142.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. TD Cowen upped their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. UBS Group reduced their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. JMP Securities raised shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 target price on the stock in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Raymond James has an average rating of “Hold” and a consensus target price of $137.36.

Raymond James Trading Down 1.7 %

Shares of Raymond James stock opened at $144.91 on Thursday. The firm has a 50-day simple moving average of $124.23 and a two-hundred day simple moving average of $121.32. The company has a market cap of $30.04 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. Raymond James has a fifty-two week low of $93.91 and a fifty-two week high of $148.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the company earned $2.13 EPS. Raymond James’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.24%. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Raymond James

Several institutional investors have recently modified their holdings of the company. Pinnacle Associates Ltd. grew its position in shares of Raymond James by 2.1% during the third quarter. Pinnacle Associates Ltd. now owns 226,342 shares of the financial services provider’s stock worth $25,237,000 after acquiring an additional 4,752 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Raymond James by 32.7% during the third quarter. First Trust Direct Indexing L.P. now owns 6,033 shares of the financial services provider’s stock worth $739,000 after acquiring an additional 1,486 shares during the last quarter. abrdn plc grew its position in shares of Raymond James by 28.6% during the third quarter. abrdn plc now owns 54,743 shares of the financial services provider’s stock worth $6,676,000 after acquiring an additional 12,174 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Raymond James by 5.8% during the third quarter. Nisa Investment Advisors LLC now owns 92,822 shares of the financial services provider’s stock worth $11,367,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Cavalier Investments LLC grew its position in shares of Raymond James by 6.6% during the third quarter. Cavalier Investments LLC now owns 7,815 shares of the financial services provider’s stock worth $957,000 after acquiring an additional 483 shares during the last quarter. Institutional investors 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.