TD Cowen Boosts Raymond James (NYSE:RJF) Price Target to $150.00

Raymond James (NYSE:RJF) had its price objective increased by TD Cowen from $128.00 to $150.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

RJF has been the subject of several other research reports. Bank of America boosted their price objective on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered 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. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Nine equities 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, the stock presently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Stock Down 2.7 %

Shares of RJF opened at $144.29 on Wednesday. The firm has a market cap of $29.72 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.75 and a beta of 1.02. The stock has a 50 day simple moving average of $127.40 and a two-hundred day simple moving average of $122.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 1 year low of $97.05 and a 1 year high of $151.59.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. On average, analysts forecast that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.25%. Raymond James’s dividend payout ratio is presently 18.54%.

Insiders Place Their Bets

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Raymond James

A number of institutional investors have recently added to or reduced their stakes in the company. Wedmont Private Capital raised its holdings 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 worth $222,000 after purchasing an additional 86 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 93 shares during the last quarter. Portside Wealth Group LLC grew its stake in shares of Raymond James by 3.9% in the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC grew its stake in shares of Raymond James by 1.6% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 96 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

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.