Keefe, Bruyette & Woods Trims Raymond James (NYSE:RJF) Target Price to $131.00

Raymond James (NYSE:RJF) had its price target trimmed by Keefe, Bruyette & Woods from $132.00 to $131.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Citigroup upped their target price on Raymond James from $112.00 to $132.00 and gave the company a neutral rating in a report on Thursday, April 11th. Jefferies Financial Group reiterated a hold rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Morgan Stanley upped their target price on Raymond James from $113.00 to $123.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. UBS Group dropped their target price on Raymond James from $116.00 to $115.00 and set a neutral rating on the stock in a report on Thursday, January 25th. Finally, StockNews.com downgraded Raymond James from a buy rating to a hold rating in a report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $126.22.

Raymond James Price Performance

RJF stock opened at $121.86 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. Raymond James has a one year low of $82.00 and a one year high of $131.19. The firm has a market capitalization of $25.47 billion, a PE ratio of 14.74, a P/E/G ratio of 0.85 and a beta of 1.05. The firm has a 50-day moving average of $123.10 and a two-hundred day moving average of $112.59.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company posted $2.03 earnings per share. Raymond James’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Raymond James will post 9.37 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.48%. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Buying and Selling

In related news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Raymond James

Large investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the first quarter worth approximately $33,000. Turtle Creek Wealth Advisors LLC bought a new stake in Raymond James during the fourth quarter worth approximately $30,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Raymond James in the fourth quarter valued at approximately $33,000. Addison Advisors LLC boosted its position in shares of Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 103 shares during the period. Finally, CVA Family Office LLC bought a new stake in shares of Raymond James in the fourth quarter valued at approximately $50,000. 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.