Jefferies Financial Group Increases Raymond James (NYSE:RJF) Price Target to $123.00

Raymond James (NYSE:RJF) had its target price increased by Jefferies Financial Group from $122.00 to $123.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

RJF has been the topic of a number of other reports. Wolfe Research reiterated a peer perform rating on shares of Raymond James in a research note on Monday. Bank of America reduced their target price on Raymond James from $145.00 to $141.00 and set a buy rating for the company in a research report on Thursday, April 25th. JMP Securities restated a market perform rating on shares of Raymond James in a research report on Tuesday, April 9th. Morgan Stanley boosted their target price on Raymond James from $113.00 to $123.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Finally, Citigroup boosted their target price on Raymond James from $112.00 to $132.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and two 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 target price of $129.89.

Raymond James Stock Performance

Shares of RJF opened at $119.83 on Monday. The firm has a market cap of $24.84 billion, a PE ratio of 14.49, a PEG ratio of 0.80 and a beta of 1.02. The stock’s fifty day moving average price is $122.09 and its two-hundred day moving average price is $119.72. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Raymond James will post 9.54 EPS for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, July 1st. Raymond James’s dividend payout ratio is presently 21.77%.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RJF. Public Sector Pension Investment Board raised its position in Raymond James by 3.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 45,202 shares of the financial services provider’s stock valued at $4,540,000 after purchasing an additional 1,571 shares during the last quarter. Deutsche Bank AG raised its position in shares of Raymond James by 2.1% in the 3rd quarter. Deutsche Bank AG now owns 471,171 shares of the financial services provider’s stock worth $47,320,000 after acquiring an additional 9,626 shares in the last quarter. American Century Companies Inc. raised its position in shares of Raymond James by 26.0% in the 3rd quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock worth $16,668,000 after acquiring an additional 34,200 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock worth $1,161,981,000 after acquiring an additional 246,349 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 192 shares in 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.