Raymond James Financial (NYSE:RJF) Price Target Lowered to $174.00 at Barclays

Raymond James Financial (NYSE:RJF) had its target price cut by Barclays from $196.00 to $174.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

RJF has been the subject of several other reports. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Bank of America upped their price objective on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday. Finally, Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $176.92.

Raymond James Financial Stock Up 3.8%

NYSE:RJF opened at $147.73 on Wednesday. Raymond James Financial has a 1 year low of $122.81 and a 1 year high of $177.66. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.07 and a beta of 1.00. The stock has a 50-day moving average price of $153.06 and a two-hundred day moving average price of $160.15.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.Raymond James Financial’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, equities analysts expect that Raymond James Financial will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Insider Transactions at Raymond James Financial

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Trading of Raymond James Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. West Branch Capital LLC bought a new stake in Raymond James Financial during the third quarter worth about $26,000. Reflection Asset Management bought a new stake in Raymond James Financial during the fourth quarter worth about $28,000. Salomon & Ludwin LLC bought a new stake in Raymond James Financial during the third quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the fourth quarter worth about $32,000. Finally, Quent Capital LLC bought a new stake in Raymond James Financial during the third quarter worth about $33,000. Institutional investors own 83.83% of the company’s stock.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.