Brokerages Set Raymond James (NYSE:RJF) PT at $126.22

Raymond James (NYSE:RJF) has been given a consensus recommendation of “Hold” by the ten analysts that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $126.22.

Several analysts recently issued reports on the company. Bank of America dropped their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. TD Cowen dropped their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Morgan Stanley upped their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Citigroup boosted their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lowered their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th.

Insider Buying and Selling

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was 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 the SEC website. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was 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 the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James during the 4th quarter worth $30,000. Smithfield Trust Co raised its position in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd raised its position in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Raymond James during the 4th quarter worth $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James during the 1st quarter worth about $33,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Stock Performance

Shares of Raymond James stock opened at $123.61 on Friday. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 0.84 and a beta of 1.01. The stock’s 50-day moving average is $122.67 and its 200-day moving average is $119.20. Raymond James has a one year low of $91.67 and a one year high of $131.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98.

Raymond James (NYSE:RJF) last issued its quarterly earnings results 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm earned $2.03 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio is currently 21.77%.

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.