Raymond James (NYSE:RJF) Receives Average Rating of “Hold” from Brokerages

Raymond James (NYSE:RJFGet Rating) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $123.14.

Several equities analysts recently issued reports on RJF shares. Citigroup started coverage on shares of Raymond James in a report on Tuesday, October 11th. They set a “neutral” rating and a $117.00 price target for the company. UBS Group cut their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Monday, January 9th. The Goldman Sachs Group lowered their price objective on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, January 4th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Thursday, November 24th. Finally, Credit Suisse Group lowered their price objective on shares of Raymond James to $118.00 in a research report on Friday, November 4th.

Insider Transactions at Raymond James

In other news, insider George Catanese sold 3,489 shares of Raymond James stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $114.02, for a total transaction of $397,815.78. Following the completion of the sale, the insider now owns 11,862 shares in the company, valued at approximately $1,352,505.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Paul C. Reilly sold 24,016 shares of Raymond James stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $111.27, for a total transaction of $2,672,260.32. Following the transaction, the chief executive officer now owns 267,499 shares of the company’s stock, valued at approximately $29,764,613.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider George Catanese sold 3,489 shares of Raymond James stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $114.02, for a total transaction of $397,815.78. Following the transaction, the insider now directly owns 11,862 shares in the company, valued at approximately $1,352,505.24. The disclosure for this sale can be found here. 10.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RJF. Zions Bancorporation N.A. boosted its stake in Raymond James by 222.5% during the 2nd quarter. Zions Bancorporation N.A. now owns 287 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 198 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Raymond James by 365.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 298 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 234 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Raymond James by 334.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 382 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 294 shares during the last quarter. Covestor Ltd boosted its stake in Raymond James by 77.1% during the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 138 shares during the last quarter. Finally, Clear Street Markets LLC boosted its stake in Raymond James by 434.2% during the 2nd quarter. Clear Street Markets LLC now owns 406 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 330 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

Raymond James Trading Up 1.5 %

Shares of RJF stock opened at $115.55 on Friday. Raymond James has a 12-month low of $84.86 and a 12-month high of $126.00. The company has a market capitalization of $24.85 billion, a P/E ratio of 16.55 and a beta of 1.06. The firm has a 50-day moving average price of $114.01 and a 200 day moving average price of $106.64. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.46.

Raymond James (NYSE:RJFGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.08. Raymond James had a net margin of 13.35% and a return on equity of 17.68%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period last year, the firm posted $2.06 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Research analysts forecast that Raymond James will post 9.39 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd will be given a dividend of $0.42 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.45%. Raymond James’s payout ratio is currently 24.07%.

Raymond James Company Profile

(Get Rating)

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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Analyst Recommendations for Raymond James (NYSE:RJF)

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