Raymond James (NYSE:RJF) Price Target Lowered to $168.00 at Wells Fargo & Company

Raymond James (NYSE:RJF) had its price target cut by Wells Fargo & Company from $169.00 to $168.00 in a report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the stock. Bank of America boosted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley lifted their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average price target of $156.09.

Raymond James Price Performance

Shares of RJF opened at $164.89 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $160.43 and its 200-day simple moving average is $135.96. The firm has a market capitalization of $33.70 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.89 and a beta of 1.02. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38.

Raymond James (NYSE:RJF) last released its quarterly earnings data 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. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the firm posted $2.13 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Raymond James will post 10.99 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is 20.60%.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their position. 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 90 days. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Raymond James

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC increased its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP purchased a new stake in Raymond James during the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in Raymond James during the 3rd quarter worth about $32,000. Gladius Capital Management LP purchased a new stake in Raymond James during the 3rd quarter worth about $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter worth about $37,000. Hedge funds and other 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.