Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Raymond James (NYSE:RJF) Stock

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

A number of other research analysts also recently issued reports on RJF. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday. TD Cowen boosted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Raymond James currently has an average rating of “Hold” and an average price target of $166.09.

Raymond James Stock Down 0.9 %

NYSE:RJF opened at $170.51 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market cap of $34.85 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The company has a 50-day moving average of $162.29 and a 200 day moving average of $139.61. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

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

Raymond James Increases Dividend

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

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisors LLC purchased a new position in shares of Raymond James during the 4th quarter valued at about $201,000. J.W. Cole Advisors Inc. purchased a new position in Raymond James during the fourth quarter valued at approximately $511,000. Principal Securities Inc. lifted its holdings in Raymond James by 7.3% in the fourth quarter. Principal Securities Inc. now owns 2,092 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 142 shares during the period. Empire Life Investments Inc. boosted its position in Raymond James by 0.8% in the 4th quarter. Empire Life Investments Inc. now owns 15,152 shares of the financial services provider’s stock worth $2,354,000 after purchasing an additional 125 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Raymond James by 31.6% in the 4th quarter. Vontobel Holding Ltd. now owns 3,212 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 772 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.