Raymond James (NYSE:RJF) Rating Lowered to Sell at ValuEngine

ValuEngine lowered shares of Raymond James (NYSE:RJF) from a hold rating to a sell rating in a research report sent to investors on Monday morning, ValuEngine reports.

Other equities research analysts also recently issued research reports about the stock. Citigroup dropped their price target on shares of Raymond James from $87.00 to $86.00 and set a neutral rating on the stock in a research note on Thursday, September 19th. Credit Suisse Group dropped their price target on shares of Raymond James from $101.00 to $97.00 and set a neutral rating on the stock in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $94.25.

Shares of RJF stock traded up $0.07 during mid-day trading on Monday, reaching $84.20. The company’s stock had a trading volume of 23,121 shares, compared to its average volume of 1,091,516. The company’s 50 day simple moving average is $81.93 and its 200-day simple moving average is $83.19. Raymond James has a 12-month low of $69.11 and a 12-month high of $92.00. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $11.57 billion, a PE ratio of 12.99 and a beta of 1.52.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $1.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($0.06). Raymond James had a net margin of 13.06% and a return on equity of 16.12%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $1.55 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Raymond James will post 7.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Monday, September 30th. Raymond James’s dividend payout ratio (DPR) is 21.02%.

In other Raymond James news, EVP Jonathan N. Santelli sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $84.80, for a total transaction of $101,760.00. Following the completion of the transaction, the executive vice president now directly owns 1,078 shares of the company’s stock, valued at approximately $91,414.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey P. Julien sold 15,756 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $78.59, for a total transaction of $1,238,264.04. Following the transaction, the chief financial officer now directly owns 39,592 shares of the company’s stock, valued at $3,111,535.28. The disclosure for this sale can be found here. Insiders have sold a total of 25,354 shares of company stock worth $2,053,098 in the last ninety days. 10.74% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC bought a new stake in Raymond James during the second quarter valued at about $31,000. Motco purchased a new stake in shares of Raymond James in the second quarter worth about $31,000. CSat Investment Advisory L.P. lifted its position in shares of Raymond James by 78.2% in the second quarter. CSat Investment Advisory L.P. now owns 629 shares of the financial services provider’s stock worth $53,000 after buying an additional 276 shares in the last quarter. FTB Advisors Inc. lifted its position in shares of Raymond James by 944.3% in the second quarter. FTB Advisors Inc. now owns 731 shares of the financial services provider’s stock worth $61,000 after buying an additional 661 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Raymond James in the second quarter worth about $62,000. Institutional investors own 70.80% of the company’s stock.

About Raymond James

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.

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