Raymond James Financial (NYSE:RJF) Given New $200.00 Price Target at Citizens Jmp

Raymond James Financial (NYSE:RJF) had its target price raised by Citizens Jmp from $190.00 to $200.00 in a report released on Thursday,Benzinga reports. They currently have a market outperform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group lowered their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. BMO Capital Markets lifted their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Barclays upped their price target on shares of Raymond James Financial from $182.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley raised their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, TD Cowen cut their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average target price of $175.33.

Raymond James Financial Stock Up 1.9%

RJF opened at $168.52 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The company has a market cap of $32.84 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.28 and a beta of 0.93. Raymond James Financial has a one year low of $138.82 and a one year high of $177.66. The business’s fifty day moving average is $154.15 and its two-hundred day moving average is $156.23.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $2.42 earnings per share. Analysts anticipate that Raymond James Financial will post 11.76 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Kingsview Wealth Management LLC grew its position in shares of Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares during the period. Algebris UK Ltd. purchased a new position in Raymond James Financial during the fourth quarter worth about $10,179,000. Fisher Asset Management LLC boosted its stake in Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Raymond James Financial by 7.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after buying an additional 7,202 shares during the last quarter. Finally, Swedbank AB grew its holdings in Raymond James Financial by 31.1% in the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares during the period. Hedge funds and other 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.