Raymond James (NYSE:RJF) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Raymond James (NYSE:RJF) in a research report released on Thursday, Marketbeat reports. The brokerage issued an overweight rating and a $138.00 price objective on the financial services provider’s stock.

RJF has been the topic of several other research reports. Wolfe Research reaffirmed a peer perform rating on shares of Raymond James in a research report on Monday, July 8th. TD Cowen increased their price target on Raymond James from $130.00 to $133.00 and gave the stock a hold rating in a research note on Monday, July 8th. Jefferies Financial Group boosted their price objective on Raymond James from $122.00 to $123.00 and gave the company a hold rating in a research note on Monday, July 8th. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an overweight rating for the company in a research report on Thursday, July 25th. Finally, UBS Group lowered their price target on shares of Raymond James from $138.00 to $135.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Raymond James has an average rating of Hold and a consensus target price of $130.70.

Raymond James Price Performance

Shares of NYSE RJF opened at $117.89 on Thursday. The company has a market capitalization of $24.28 billion, a PE ratio of 14.26, a PEG ratio of 0.79 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $115.16 and its 200-day moving average price is $120.29. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19.

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

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. Raymond James’s dividend payout ratio is presently 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 that occurred 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 owns 75,586 shares of the company’s stock, valued at $8,692,390. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were 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 of the company’s stock, valued at $8,692,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

A number of large investors have recently bought and sold shares of RJF. Quarry LP purchased a new position in shares of Raymond James in the second quarter worth $29,000. Smithfield Trust Co increased its position in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares during the period. Covestor Ltd raised its stake 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 acquiring an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Raymond James during the fourth quarter worth about $33,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the first quarter worth about $33,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.