Raymond James (RJF) – Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Raymond James (NYSE: RJF):

• 4/25/2024 – Raymond James had its price target lowered by analysts at Keefe, Bruyette & Woods from $132.00 to $131.00. They now have a “market perform” rating on the stock.
• 4/25/2024 – Raymond James had its price target lowered by analysts at TD Cowen from $131.00 to $126.00. They now have a “hold” rating on the stock.
• 4/25/2024 – Raymond James had its price target lowered by analysts at Bank of America Co. from $145.00 to $141.00. They now have a “buy” rating on the stock.
• 4/11/2024 – Raymond James had its price target raised by analysts at Citigroup Inc. from $112.00 to $132.00. They now have a “neutral” rating on the stock.
• 4/9/2024 – Raymond James had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 4/9/2024 – Raymond James had its price target raised by analysts at Morgan Stanley from $113.00 to $123.00. They now have an “equal weight” rating on the stock.
• 3/22/2024 – Raymond James had its price target raised by analysts at TD Cowen from $116.50 to $131.00. They now have a “market perform” rating on the stock.

Raymond James Stock Up 0.5 %

Shares of NYSE RJF traded up $0.55 during trading hours on Wednesday, hitting $122.55. The company had a trading volume of 1,305,130 shares, compared to its average volume of 1,081,822. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $25.62 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 0.84 and a beta of 1.05. The firm’s 50 day moving average is $123.31 and its 200-day moving average is $113.01.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 EPS. On average, analysts expect that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.47%. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Activity

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Art A. Garcia acquired 879 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now owns 879 shares in the company, valued at approximately $98,711.70. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Raymond James

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Drive Wealth Management LLC raised its stake in shares of Raymond James by 3.4% in the first quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 85 shares during the period. Steph & Co. boosted its holdings in shares of Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 91 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after buying an additional 93 shares during the last quarter. Federated Hermes Inc. grew its stake 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 period. Finally, Oarsman Capital Inc. raised its position in shares of Raymond James by 0.9% in the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after acquiring an additional 99 shares during the period. Institutional investors own 83.83% of the company’s stock.

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.