Raymond James (NYSE:RJF) Sets New 1-Year High at $129.43

Raymond James (NYSE:RJF - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $129.43 and last traded at $128.75, with a volume of 39260 shares traded. The stock had previously closed at $128.52.

Analyst Ratings Changes

RJF has been the topic of several research analyst reports. StockNews.com cut shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $116.00 target price (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Morgan Stanley boosted their target price on shares of Raymond James from $106.00 to $113.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. JPMorgan Chase & Co. raised shares of Raymond James from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Finally, TD Cowen raised their target price on shares of Raymond James from $116.50 to $131.00 and gave the stock a "market perform" rating in a report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of "Hold" and a consensus target price of $120.50.

Raymond James Trading Up 0.1 %

The company's 50-day moving average price is $118.65 and its 200-day moving average price is $109.44. The firm has a market cap of $26.90 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $2.29 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts expect that Raymond James will post 9.2 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 28th. Raymond James's payout ratio is currently 22.56%.

Insiders Place Their Bets

In other Raymond James news, Director Art A. Garcia acquired 879 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now owns 879 shares of the company's stock, valued at approximately $98,711.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now owns 879 shares of the company's stock, valued at $98,711.70. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan N. Santelli sold 1,891 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company's stock, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Institutional Trading of Raymond James

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its position in Raymond James by 26.0% during the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider's stock worth $16,668,000 after acquiring an additional 34,200 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in Raymond James by 13.3% in the third quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider's stock valued at $273,000 after purchasing an additional 318 shares during the period. Operose Advisors LLC grew its holdings in Raymond James by 241.3% in the third quarter. Operose Advisors LLC now owns 1,024 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 724 shares during the period. First Foundation Advisors purchased a new stake in Raymond James in the third quarter valued at approximately $1,090,000. Finally, Comerica Bank purchased a new stake in Raymond James in the second quarter valued at approximately $38,099,000. 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.