JMP Securities Lowers Raymond James (NYSE:RJF) Price Target to $175.00

Raymond James (NYSE:RJF - Free Report) had its price objective lowered by JMP Securities from $190.00 to $175.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a market outperform rating on the financial services provider's stock.

RJF has been the subject of several other reports. Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Citigroup reduced their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. UBS Group raised shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. The Goldman Sachs Group cut their price objective on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley raised their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Raymond James presently has an average rating of "Hold" and a consensus target price of $160.27.

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Raymond James Stock Performance

Shares of NYSE:RJF traded up $3.04 on Tuesday, hitting $135.27. The company had a trading volume of 2,090,230 shares, compared to its average volume of 1,292,325. The stock has a 50 day moving average price of $146.07 and a 200 day moving average price of $151.13. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market cap of $27.72 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.90 and a beta of 0.94. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. Raymond James's payout ratio is presently 19.51%.

Hedge Funds Weigh In On Raymond James

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in Raymond James during the 4th quarter worth $294,647,000. Raymond James Financial Inc. bought a new position in shares of Raymond James during the fourth quarter worth about $105,701,000. GAMMA Investing LLC lifted its stake in shares of Raymond James by 25,259.8% in the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock worth $93,740,000 after acquiring an additional 672,164 shares during the period. Select Equity Group L.P. bought a new stake in Raymond James in the fourth quarter valued at approximately $81,611,000. Finally, JPMorgan Chase & Co. increased its position in Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock valued at $556,533,000 after purchasing an additional 488,245 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

About Raymond James

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.