Raymond James (NYSE:RJF) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Raymond James (NYSE:RJF) from a hold rating to a buy rating in a report released on Friday.

A number of other equities analysts have also commented on the company. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America lifted their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup boosted their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday. Finally, JMP Securities boosted their price objective on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $166.09.

Raymond James Stock Down 1.3 %

Shares of Raymond James stock opened at $168.41 on Friday. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The stock has a market capitalization of $34.42 billion, a P/E ratio of 16.43, a PEG ratio of 1.05 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $162.36 and a two-hundred day moving average price of $139.94.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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 19.99%. Equities analysts expect that Raymond James will post 11.02 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.50 dividend. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling

In other news, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the transaction, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 in the last 90 days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Raymond James

Institutional investors and hedge funds have recently bought and sold shares of the business. Joel Adams & Associates Inc. acquired a new stake in shares of Raymond James in the 4th quarter valued at $378,000. Atria Wealth Solutions Inc. bought a new position in Raymond James in the fourth quarter valued at approximately $625,000. Venturi Wealth Management LLC grew its holdings in Raymond James by 1,966.9% during the 4th quarter. Venturi Wealth Management LLC now owns 3,245 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 3,088 shares during the period. CIBC Asset Management Inc raised its position in shares of Raymond James by 3.0% during the 4th quarter. CIBC Asset Management Inc now owns 29,207 shares of the financial services provider’s stock valued at $4,537,000 after acquiring an additional 841 shares during the last quarter. Finally, Pathway Financial Advisors LLC acquired a new position in shares of Raymond James in the 4th quarter valued at $201,000. 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.