Morgan Stanley Boosts Raymond James (NYSE:RJF) Price Target to $123.00

by · The Markets Daily

Raymond James (NYSE:RJF – Free Report) had its price target raised by Morgan Stanley from $113.00 to $123.00 in a research report report published on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts have also commented on the company. StockNews.com lowered Raymond James from a buy rating to a hold rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upgraded Raymond James from a neutral rating to an overweight rating and lifted their price target for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Jefferies Financial Group reissued a hold rating and issued a $117.00 price objective (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. TD Cowen raised their price objective on shares of Raymond James from $116.50 to $131.00 and gave the stock a market perform rating in a research note on Friday, March 22nd. Finally, UBS Group decreased their price objective on shares of Raymond James from $116.00 to $115.00 and set a neutral rating for the company in a research note on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James currently has a consensus rating of Hold and an average target price of $123.88.

View Our Latest Analysis on RJF

Raymond James Trading Down 1.6 %

Shares of RJF stock opened at $122.55 on Tuesday. Raymond James has a 52-week low of $82.00 and a 52-week high of $131.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The firm has a market capitalization of $25.62 billion, a PE ratio of 15.36, a PEG ratio of 0.90 and a beta of 1.05. The stock has a fifty day simple moving average of $121.33 and a two-hundred day simple moving average of $110.79.

Raymond James (NYSE:RJF – Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. On average, analysts predict that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.47%. Raymond James’s dividend payout ratio is presently 22.56%.

Insider Activity at Raymond James

In other Raymond James news, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Steph & Co. raised its position in shares of Raymond James by 9.3% in the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 91 shares during the period. Federated Hermes Inc. raised its position in shares of Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 96 shares during the last quarter. Oarsman Capital Inc. raised its position in shares of Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 99 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Raymond James by 3.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,419 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 100 shares during the last quarter. Finally, Addison Advisors LLC raised its position in shares of Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Company Profile

(Get Free Report)

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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