Wells Fargo & Co restated their outperform rating on shares of Raymond James Financial (NYSE:RJF) in a research report sent to investors on Thursday. They currently have a $110.00 target price on the financial services provider’s stock, up from their prior target price of $94.00.
RJF has been the subject of several other reports. Buckingham Research upped their price objective on Raymond James Financial from $92.00 to $96.00 and gave the stock a buy rating in a research report on Friday, October 27th. Credit Suisse Group began coverage on Raymond James Financial in a research report on Thursday, November 30th. They set an underperform rating and a $82.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $85.00 price objective on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $91.43.
Raymond James Financial (NYSE RJF) traded up $0.74 on Thursday, reaching $90.54. The company had a trading volume of 1,345,500 shares, compared to its average volume of 1,102,233. Raymond James Financial has a 1 year low of $70.74 and a 1 year high of $91.66. The firm has a market cap of $13,070.00, a PE ratio of 20.96, a price-to-earnings-growth ratio of 0.84 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be issued a $0.25 dividend. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, January 2nd. Raymond James Financial’s payout ratio is presently 23.15%.
In other Raymond James Financial news, SVP Jennifer C. Ackart sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $89.23, for a total transaction of $267,690.00. Following the completion of the sale, the senior vice president now directly owns 12,409 shares of the company’s stock, valued at approximately $1,107,255.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP George Catanese sold 506 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $88.29, for a total value of $44,674.74. Following the sale, the senior vice president now directly owns 5,884 shares of the company’s stock, valued at $519,498.36. The disclosure for this sale can be found here. Insiders sold a total of 318,204 shares of company stock valued at $27,453,239 over the last three months. Company insiders own 11.18% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of RJF. BT Investment Management Ltd purchased a new stake in Raymond James Financial during the 2nd quarter valued at approximately $98,773,000. Janus Henderson Group PLC raised its stake in Raymond James Financial by 188.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,206,006 shares of the financial services provider’s stock valued at $96,746,000 after acquiring an additional 787,396 shares during the last quarter. Wells Fargo & Company MN raised its stake in Raymond James Financial by 25.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock valued at $256,605,000 after acquiring an additional 642,474 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Raymond James Financial by 489.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock valued at $38,146,000 after acquiring an additional 391,701 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Raymond James Financial by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock valued at $1,034,139,000 after acquiring an additional 319,457 shares during the last quarter. 69.79% of the stock is owned by hedge funds and other institutional investors.
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Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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