Raymond James (NYSE:RJF) Price Target Increased to $142.00 by Analysts at The Goldman Sachs Group

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

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. TD Cowen boosted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Wells Fargo & Company boosted their price target on Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, UBS Group decreased their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus price target of $137.36.

Raymond James Price Performance

Shares of RJF stock traded down $0.67 during trading hours on Thursday, hitting $146.73. The company’s stock had a trading volume of 238,299 shares, compared to its average volume of 1,135,520. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $123.66 and a 200-day moving average of $121.26. Raymond James has a twelve month low of $93.91 and a twelve month high of $148.68. The stock has a market cap of $30.22 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 0.95 and a beta of 1.02.

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

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 20.29%.

Insider Transactions at Raymond James

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

Hedge Funds Weigh In On Raymond James

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedmont Private Capital grew its position in Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 86 shares in the last quarter. Private Advisor Group LLC grew its holdings in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its stake in Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after buying an additional 96 shares during the period. Covestor Ltd increased its stake 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 buying an additional 104 shares during the period. Finally, MFA Wealth Advisors LLC lifted its holdings in Raymond James by 2.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 4,051 shares of the financial services provider’s stock worth $496,000 after buying an additional 105 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

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.