JPMorgan Chase & Co. Cuts Raymond James (NYSE:RJF) Price Target to $143.00

Raymond James (NYSE:RJF) had its target price lowered by JPMorgan Chase & Co. from $149.00 to $143.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities reissued a “market outperform” rating and issued a $175.00 price target on shares of Raymond James in a report on Thursday. Morgan Stanley boosted their price objective on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price target on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Ten equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and an average price target of $157.64.

Raymond James Stock Up 0.2 %

Shares of RJF stock opened at $137.50 on Thursday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. 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 stock has a market cap of $28.18 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.90 and a beta of 0.94. The firm’s 50-day moving average is $140.43 and its 200-day moving average is $151.84.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. During the same period in the previous year, the business earned $2.31 earnings per share. Sell-side analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, April 1st. Raymond James’s payout ratio is currently 19.25%.

Institutional Investors Weigh In On Raymond James

A number of large investors have recently bought and sold shares of RJF. Mather Group LLC. raised its position in shares of Raymond James by 12.4% in the 1st quarter. Mather Group LLC. now owns 1,880 shares of the financial services provider’s stock valued at $261,000 after buying an additional 207 shares in the last quarter. Red Door Wealth Management LLC bought a new stake in Raymond James during the first quarter worth $453,000. New Wave Wealth Advisors LLC bought a new stake in Raymond James during the first quarter worth $489,000. Amalgamated Bank boosted its holdings in shares of Raymond James by 4.3% in the 1st quarter. Amalgamated Bank now owns 36,858 shares of the financial services provider’s stock valued at $5,120,000 after purchasing an additional 1,533 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Raymond James by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider’s stock valued at $65,058,000 after purchasing an additional 3,691 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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.