Raymond James (NYSE:RJF) Price Target Cut to $125.00 by Analysts at The Goldman Sachs Group

Raymond James (NYSE:RJF) had its target price cut by The Goldman Sachs Group from $127.00 to $125.00 in a research report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

RJF has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their target price on shares of Raymond James from $137.00 to $135.00 and set an overweight rating on the stock in a report on Thursday, July 25th. Wells Fargo & Company started coverage on shares of Raymond James in a report on Thursday, September 12th. They issued an overweight rating and a $138.00 target price on the stock. UBS Group reduced their target price on shares of Raymond James from $138.00 to $135.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. TD Cowen boosted their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a hold rating in a report on Monday, July 8th. Finally, Wolfe Research restated a peer perform rating on shares of Raymond James in a report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $131.60.

Raymond James Trading Down 0.0 %

Shares of RJF stock opened at $122.46 on Thursday. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The firm has a fifty day moving average price of $116.43 and a 200-day moving average price of $120.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market cap of $25.22 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.84 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. Raymond James’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.85 EPS. As a group, equities analysts predict that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.47%. Raymond James’s payout ratio is 21.77%.

Insiders Place Their Bets

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’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 completion of the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Raymond James

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Raymond James in the 2nd quarter valued at $29,000. Smithfield Trust Co raised its holdings in Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Covestor Ltd lifted its position in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Raymond James in the 4th quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James in the 1st quarter worth approximately $33,000. Institutional investors own 83.83% of the company’s stock.

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.