Raymond James (NYSE:RJF) had its price objective boosted by Citigroup from $92.00 to $95.00 in a research note published on Tuesday, BenzingaRatingsTable reports. They currently have a neutral rating on the financial services provider’s stock.
A number of other research firms have also recently issued reports on RJF. Zacks Investment Research upgraded IQE from a sell rating to a hold rating in a research report on Thursday, April 4th. Compass Point initiated coverage on LPL Financial in a research note on Monday, March 11th. They issued a buy rating and a $82.00 price target on the stock. ValuEngine raised WPP from a sell rating to a hold rating in a research note on Wednesday, June 19th. Wells Fargo & Co reaffirmed a hold rating on shares of AON in a research note on Friday, April 5th. Finally, Argus reaffirmed a buy rating and issued a $215.00 price target on shares of AvalonBay Communities in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $94.88.
RJF opened at $85.38 on Tuesday. The company has a market capitalization of $11.97 billion, a PE ratio of 13.20 and a beta of 1.52. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Raymond James has a 1 year low of $69.11 and a 1 year high of $97.62. The company’s 50 day moving average price is $83.90.
Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.14. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Raymond James had a return on equity of 15.90% and a net margin of 12.90%. Raymond James’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. Analysts anticipate that Raymond James will post 7.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, June 28th. Raymond James’s dividend payout ratio is 21.02%.
In other Raymond James news, EVP Jonathan N. Santelli sold 725 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $84.82, for a total value of $61,494.50. Following the transaction, the executive vice president now owns 3,003 shares of the company’s stock, valued at $254,714.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeffrey E. Trocin sold 13,157 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $91.11, for a total value of $1,198,734.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,881 shares of company stock worth $10,012,987. 10.74% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Raymond James by 126.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,564 shares of the financial services provider’s stock valued at $1,457,000 after purchasing an additional 10,927 shares during the last quarter. Advisor Group Inc. raised its position in Raymond James by 4.4% in the 4th quarter. Advisor Group Inc. now owns 9,878 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 417 shares during the last quarter. Northern Trust Corp raised its position in Raymond James by 1.2% in the 4th quarter. Northern Trust Corp now owns 1,486,063 shares of the financial services provider’s stock valued at $110,579,000 after purchasing an additional 17,404 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Raymond James by 0.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 77,646 shares of the financial services provider’s stock valued at $5,493,000 after purchasing an additional 639 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its stake in Raymond James by 32.6% in the 4th quarter. Commonwealth Bank of Australia now owns 9,411 shares of the financial services provider’s stock valued at $696,000 after buying an additional 2,312 shares during the period. 70.05% of the stock is currently owned by 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.
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