Raymond James (NYSE:RJF) Lowered to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of Raymond James (NYSE:RJF - Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

RJF has been the topic of a number of other research reports. Bank of America increased their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley increased their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price target on shares of Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. UBS Group upgraded shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, TD Cowen increased their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $166.09.

Raymond James Stock Performance

Shares of NYSE:RJF traded down $0.76 on Monday, reaching $159.63. 1,341,803 shares of the company's stock were exchanged, compared to its average volume of 1,290,741. The company has a fifty day moving average of $161.75 and a 200-day moving average of $143.16. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a market capitalization of $32.62 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.98 and a beta of 1.03. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. On average, research analysts predict that Raymond James will post 11.12 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. This is a positive change from Raymond James's previous quarterly dividend of $0.45. Raymond James's dividend payout ratio (DPR) is currently 19.51%.

Insider Buying and Selling at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares of the company's stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company's stock, valued at $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Raymond James

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 198 shares during the period. TCTC Holdings LLC raised its holdings in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 106 shares during the period. Gladius Capital Management LP acquired a new position in shares of Raymond James during the third quarter valued at about $34,000. Y.D. More Investments Ltd raised its holdings in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 127 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in shares of Raymond James during the third quarter valued at about $37,000. 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.