Raymond James (NYSE:RJF) Price Target Cut to $126.00

Raymond James (NYSE:RJF - Free Report) had its price objective cut by TD Cowen from $131.00 to $126.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a hold rating on the financial services provider's stock.

A number of other equities research analysts have also weighed in on RJF. The Goldman Sachs Group reissued a neutral rating and issued a $116.00 target price (down previously from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. Bank of America lowered their target price on Raymond James from $145.00 to $141.00 and set a buy rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised Raymond James from a neutral rating to an overweight rating and boosted their target price for the company from $110.00 to $135.00 in a research note on Wednesday, January 10th. Citigroup upped 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. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $117.00 price target (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $126.22.

Raymond James Price Performance

RJF stock traded down $5.59 during mid-day trading on Thursday, hitting $121.95. 2,769,586 shares of the stock were exchanged, compared to its average volume of 1,077,007. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The business has a fifty day moving average price of $123.04 and a 200 day moving average price of $112.35. Raymond James has a 12 month low of $82.00 and a 12 month high of $131.19. The stock has a market capitalization of $25.49 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.89 and a beta of 1.05.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $2.03 EPS. The company's revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that Raymond James will post 9.45 EPS for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.48%. Raymond James's dividend payout ratio is 22.56%.

Insider Buying and Selling at Raymond James

In other news, EVP Jonathan N. Santelli sold 1,891 shares of the 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 transaction, the executive vice president now directly owns 21,491 shares of the company's stock, valued at approximately $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Art A. Garcia bought 879 shares of the firm's stock in a transaction that occurred 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 acquisition, the director now owns 879 shares in the company, valued at $98,711.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently bought and sold shares of the business. Center for Financial Planning Inc. increased its stake in Raymond James by 2.0% in the 1st quarter. Center for Financial Planning Inc. now owns 24,181 shares of the financial services provider's stock worth $3,105,000 after buying an additional 465 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Raymond James in the 1st quarter worth $201,000. MFA Wealth Advisors LLC increased its stake in Raymond James by 4.0% in the 1st quarter. MFA Wealth Advisors LLC now owns 8,456 shares of the financial services provider's stock worth $1,086,000 after buying an additional 323 shares in the last quarter. Carl Stuart Investment Advisor Inc. purchased a new stake in Raymond James in the 1st quarter worth $3,872,000. Finally, Simplicity Wealth LLC purchased a new position in shares of Raymond James during the first quarter valued at about $334,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

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.