BidaskClub downgraded shares of Raymond James Financial, Inc. (NYSE:RJF) from a strong-buy rating to a buy rating in a research report sent to investors on Monday morning.
Several other equities research analysts have also weighed in on RJF. Instinet reissued a buy rating and set a $90.00 price objective (up from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Nomura increased their target price on Raymond James Financial from $89.00 to $90.00 and gave the company a buy rating in a report on Thursday, July 13th. Wells Fargo & Company restated a market perform rating and issued a $85.00 target price (up previously from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Keefe, Bruyette & Woods reiterated a hold rating and set a $85.00 price objective on shares of Raymond James Financial in a report on Monday, June 26th. Finally, Buckingham Research reiterated a buy rating and set a $94.00 price objective (up from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $87.50.
Shares of Raymond James Financial (RJF) traded up 0.63% on Monday, hitting $82.90. The company’s stock had a trading volume of 610,633 shares. The firm has a market cap of $11.91 billion, a PE ratio of 19.72 and a beta of 1.65. Raymond James Financial has a 1-year low of $53.56 and a 1-year high of $85.97. The company has a 50 day moving average of $81.09 and a 200 day moving average of $77.11.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.24 by $0.02. Raymond James Financial had a return on equity of 13.57% and a net margin of 9.78%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.93 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. Equities analysts forecast that Raymond James Financial will post $5.10 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, June 29th. Raymond James Financial’s dividend payout ratio (DPR) is currently 20.90%.
In related news, EVP Jonathan N. Santelli sold 1,880 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $73.30, for a total value of $137,804.00. Following the completion of the transaction, the executive vice president now owns 3,000 shares in the company, valued at approximately $219,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the transaction, the insider now owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in RJF. Renaissance Technologies LLC acquired a new stake in Raymond James Financial during the fourth quarter worth approximately $4,141,000. UBS Asset Management Americas Inc. raised its stake in Raymond James Financial by 7.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 370,813 shares of the financial services provider’s stock worth $25,686,000 after buying an additional 25,473 shares in the last quarter. Highbridge Capital Management LLC raised its stake in Raymond James Financial by 54.2% in the fourth quarter. Highbridge Capital Management LLC now owns 40,452 shares of the financial services provider’s stock worth $2,802,000 after buying an additional 14,215 shares in the last quarter. Beacon Financial Group acquired a new stake in Raymond James Financial during the first quarter worth approximately $388,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in Raymond James Financial during the first quarter worth approximately $8,407,000. 70.59% of the stock is owned by hedge funds and other institutional investors.
About Raymond James Financial
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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