StockNews.com Lowers Raymond James (NYSE:RJF) to Hold

StockNews.com cut shares of Raymond James (NYSE:RJFFree Report) from a buy rating to a hold rating in a research note published on Friday morning.

Other equities research analysts have also issued reports about the stock. TD Cowen started coverage on shares of Raymond James in a research note on Thursday, January 4th. They set a market perform rating and a $121.00 price target on the stock. UBS Group cut their price target on shares of Raymond James from $116.00 to $115.00 and set a neutral rating on the stock in a research note on Thursday, January 25th. Morgan Stanley lifted their price target on shares of Raymond James from $106.00 to $113.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. Jefferies Financial Group reiterated a hold rating and set a $117.00 price target (up from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Finally, The Goldman Sachs Group reiterated a neutral rating and set a $116.00 price target (down from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Raymond James has an average rating of Hold and a consensus price target of $119.25.

Read Our Latest Stock Report on Raymond James

Raymond James Price Performance

Shares of NYSE RJF opened at $117.03 on Friday. The stock’s 50-day simple moving average is $111.06 and its 200-day simple moving average is $105.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The firm has a market capitalization of $24.46 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 0.95 and a beta of 1.03. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $117.86.

Raymond James (NYSE:RJFGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. As a group, equities research analysts forecast that Raymond James will post 9.15 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.45 per share. The ex-dividend date was Friday, December 29th. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. This is an increase from Raymond James’s previous quarterly dividend of $0.42. Raymond James’s payout ratio is currently 22.56%.

Insider Buying and Selling

In other Raymond James news, insider George Catanese sold 3,866 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $106.75, for a total value of $412,695.50. Following the sale, the insider now owns 11,712 shares of the company’s stock, valued at $1,250,256. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider George Catanese sold 3,866 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $106.75, for a total value of $412,695.50. Following the completion of the transaction, the insider now owns 11,712 shares of the company’s stock, valued at $1,250,256. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,687 shares of company stock valued at $727,008. Corporate insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise increased its position in Raymond James by 13.3% during the third quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 318 shares during the last quarter. Comerica Bank acquired a new position in Raymond James during the second quarter worth approximately $38,099,000. Dimensional Fund Advisors LP increased its position in Raymond James by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,434,163 shares of the financial services provider’s stock worth $148,829,000 after purchasing an additional 117,155 shares during the last quarter. BlackRock Inc. increased its position in Raymond James by 4.7% during the second quarter. BlackRock Inc. now owns 17,196,715 shares of the financial services provider’s stock worth $1,784,503,000 after purchasing an additional 772,492 shares during the last quarter. Finally, Forsta AP Fonden increased its position in Raymond James by 7.1% during the second quarter. Forsta AP Fonden now owns 34,700 shares of the financial services provider’s stock worth $3,601,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.

Raymond James Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Raymond James (NYSE:RJF)

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