Morgan Stanley Forecasts Strong Price Appreciation for Raymond James (NYSE:RJF) Stock

Raymond James (NYSE:RJF) had its target price increased by Morgan Stanley from $149.00 to $161.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on RJF. JMP Securities upped their price target on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Citigroup increased their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $167.55.

Raymond James Stock Down 1.5 %

Raymond James stock opened at $143.66 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The business’s 50-day simple moving average is $160.37 and its two-hundred day simple moving average is $147.45. The company has a market cap of $29.44 billion, a PE ratio of 14.02, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.39%. Raymond James’s payout ratio is 19.51%.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. TCTC Holdings LLC boosted its position 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 worth $26,000 after buying an additional 106 shares during the period. Gladius Capital Management LP acquired a new stake in shares of Raymond James in the third quarter valued at $34,000. Y.D. More Investments Ltd raised its stake in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Raymond James in the third quarter valued at $37,000. Finally, Plato Investment Management Ltd raised its stake in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.