Raymond James Financial (NYSE:RJF) Price Target Raised to $151.00

Raymond James Financial (NYSE:RJF - Free Report) had its price objective upped by JPMorgan Chase & Co. from $143.00 to $151.00 in a report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider's stock.

A number of other research firms have also recently commented on RJF. Bank of America cut Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a research note on Wednesday, April 30th. JMP Securities reissued a "market outperform" rating and issued a $175.00 target price on shares of Raymond James Financial in a research note on Thursday, April 24th. Citigroup upped their price target on shares of Raymond James Financial from $150.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday. The Goldman Sachs Group cut their price target on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company cut their price target on shares of Raymond James Financial from $176.00 to $143.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $155.91.

Raymond James Financial Stock Performance

Shares of NYSE:RJF traded up $0.44 during trading on Tuesday, hitting $157.72. 843,653 shares of the company were exchanged, compared to its average volume of 1,330,248. The company has a market cap of $31.82 billion, a PE ratio of 15.18, a P/E/G ratio of 1.89 and a beta of 1.02. The stock has a 50 day moving average of $148.47 and a 200 day moving average of $149.69. Raymond James Financial has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. As a group, equities research analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.27%. Raymond James Financial's dividend payout ratio (DPR) is presently 19.25%.

Insider Activity at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James Financial stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the transaction, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James E. Bunn sold 3,650 shares of Raymond James Financial stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider owned 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial during the first quarter valued at approximately $25,000. TCTC Holdings LLC increased its position in shares of Raymond James Financial by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial during the first quarter valued at approximately $27,000. Golden State Wealth Management LLC increased its position in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 123 shares in the last quarter. Finally, Olde Wealth Management LLC bought a new stake in shares of Raymond James Financial during the first quarter valued at approximately $33,000. Institutional investors own 83.83% of the company's stock.

Raymond James Financial 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.