Raymond James (NYSE:RJF) Given New $177.00 Price Target at Keefe, Bruyette & Woods

Raymond James (NYSE:RJF) had its price objective hoisted by Keefe, Bruyette & Woods from $170.00 to $177.00 in a report published on Thursday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $166.00 price target (up previously from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and lifted their target price for the company from $161.00 to $185.00 in a research note on Monday, January 6th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James currently has an average rating of “Hold” and a consensus target price of $166.09.

Raymond James Stock Down 0.9 %

RJF stock opened at $170.51 on Thursday. The business’s 50-day moving average price is $162.29 and its 200-day moving average price is $139.61. The stock has a market cap of $34.85 billion, a P/E ratio of 16.64, a PEG ratio of 1.05 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. On average, equities research analysts forecast that Raymond James will post 11.02 EPS for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, January 2nd. Raymond James’s payout ratio is presently 19.51%.

Insider Activity

In related news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 in the last ninety days. Insiders own 0.54% of the company’s stock.

Institutional Trading of Raymond James

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in shares of Raymond James by 20.3% during the 2nd quarter. Mackenzie Financial Corp now owns 23,581 shares of the financial services provider’s stock worth $2,915,000 after acquiring an additional 3,983 shares during the last quarter. Creative Planning increased its stake in Raymond James by 2.2% in the second quarter. Creative Planning now owns 37,781 shares of the financial services provider’s stock worth $4,670,000 after purchasing an additional 797 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Raymond James by 15.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,965 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 404 shares during the last quarter. Quarry LP purchased a new stake in shares of Raymond James during the second quarter valued at $29,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Raymond James by 35.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 6,384 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 1,687 shares during the last quarter. 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.