Jefferies Financial Group Boosts Raymond James (NYSE:RJF) Price Target to $126.00

Raymond James (NYSE:RJF - Free Report) had its price objective hoisted by Jefferies Financial Group from $123.00 to $126.00 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the financial services provider's stock.

Several other equities analysts also recently weighed in on RJF. Wells Fargo & Company began coverage on Raymond James in a research report on Thursday, September 12th. They set an overweight rating and a $138.00 price target for the company. Wolfe Research reissued a peer perform rating on shares of Raymond James in a research note on Monday, July 8th. The Goldman Sachs Group decreased their price target on shares of Raymond James from $127.00 to $125.00 and set a neutral rating on the stock in a research note on Thursday, September 26th. TD Cowen boosted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a hold rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Raymond James from $137.00 to $135.00 and set an overweight rating on the stock in a research report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $131.90.

Raymond James Price Performance

Raymond James stock traded up $2.43 during trading hours on Friday, hitting $127.13. The stock had a trading volume of 1,024,644 shares, compared to its average volume of 1,110,188. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.83 and a beta of 1.02. The stock's fifty day moving average is $117.27 and its two-hundred day moving average is $120.56. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.24 billion. During the same quarter in the previous year, the business posted $1.85 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James's dividend payout ratio is currently 21.77%.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares of the company's stock, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares of the company's stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Heritage Wealth Advisors grew its stake in shares of Raymond James by 3,480.7% during the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider's stock valued at $62,702,000 after acquiring an additional 474,622 shares in the last quarter. AGF Management Ltd. raised its position in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider's stock valued at $318,972,000 after purchasing an additional 378,033 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Raymond James by 820.2% in the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider's stock valued at $25,388,000 after purchasing an additional 176,210 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Raymond James by 27.4% during the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider's stock valued at $90,273,000 after buying an additional 174,286 shares during the last quarter. Finally, Avity Investment Management Inc. acquired a new stake in shares of Raymond James during the first quarter worth approximately $18,548,000. 83.83% of the stock is currently 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.