Raymond James (NYSE:RJF) Given Consensus Rating of “Hold” by Brokerages

Raymond James (NYSE:RJF) has been assigned an average rating of “Hold” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $126.22.

RJF has been the topic of several research analyst reports. Citigroup upped their price objective on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. UBS Group decreased their price objective on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th.

Raymond James Stock Performance

NYSE RJF opened at $124.42 on Friday. The stock has a market cap of $26.01 billion, a P/E ratio of 15.04, a PEG ratio of 0.83 and a beta of 1.03. The company’s 50-day simple moving average is $123.53 and its 200 day simple moving average is $113.15. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. Raymond James’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 earnings per share. As a group, research analysts forecast that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.45%. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Art A. Garcia acquired 879 shares of the stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Raymond James

Several large investors have recently made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James in the fourth quarter valued at $30,000. OLD Point Trust & Financial Services N A bought a new position in Raymond James in the fourth quarter valued at $33,000. Future Financial Wealth Managment LLC bought a new position in Raymond James in the first quarter valued at $33,000. Addison Advisors LLC grew its position in Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 103 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Raymond James in the fourth quarter valued at $50,000. Institutional investors own 83.83% 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.