Raymond James Financial, Inc. (NYSE:RJF) Receives $163.80 Consensus PT from Analysts

Raymond James Financial, Inc. (NYSE:RJF) has received an average rating of “Hold” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $163.80.

A number of brokerages recently commented on RJF. Bank of America cut shares of Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their price objective on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley raised their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the transaction, the insider owned 74,586 shares of the company’s stock, valued at $10,935,053.46. This represents a 8.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Raymond James Financial

A number of hedge funds have recently made changes to their positions in the stock. Ethic Inc. raised its position in Raymond James Financial by 11.6% during the second quarter. Ethic Inc. now owns 22,213 shares of the financial services provider’s stock valued at $3,404,000 after purchasing an additional 2,306 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of Raymond James Financial by 14.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 3,036 shares of the financial services provider’s stock valued at $466,000 after purchasing an additional 380 shares during the last quarter. Cookson Peirce & Co. Inc. raised its holdings in shares of Raymond James Financial by 5.1% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 5,064 shares of the financial services provider’s stock valued at $777,000 after buying an additional 248 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in Raymond James Financial by 8.3% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,545 shares of the financial services provider’s stock worth $390,000 after buying an additional 196 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Raymond James Financial by 0.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 33,882 shares of the financial services provider’s stock worth $5,171,000 after buying an additional 264 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Stock Performance

Shares of RJF opened at $169.47 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.02. The firm has a market cap of $34.19 billion, a PE ratio of 16.61, a PEG ratio of 1.38 and a beta of 1.02. Raymond James Financial has a 1 year low of $104.24 and a 1 year high of $174.32. The stock’s fifty day moving average price is $153.63 and its two-hundred day moving average price is $150.33.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.39 earnings per share. On average, equities research analysts forecast that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial’s dividend payout ratio is currently 19.61%.

Raymond James Financial 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.