Raymond James Financial, Inc. (NYSE:RJF) Receives $172.20 Average Price Target from Analysts

Shares of Raymond James Financial, Inc. (NYSE:RJF) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $172.20.

RJF has been the topic of several recent research reports. Morgan Stanley lifted their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Wells Fargo & Company boosted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a report on Thursday. JMP Securities lifted their target price on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RJF. Norges Bank bought a new position in Raymond James Financial during the second quarter valued at about $354,446,000. Victory Capital Management Inc. lifted its holdings in Raymond James Financial by 1,502.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock valued at $261,587,000 after acquiring an additional 1,765,588 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Raymond James Financial by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after purchasing an additional 1,651,380 shares in the last quarter. Nuveen LLC acquired a new position in shares of Raymond James Financial in the 1st quarter worth approximately $111,368,000. Finally, First Trust Advisors LP raised its holdings in shares of Raymond James Financial by 39.9% in the 2nd quarter. First Trust Advisors LP now owns 2,485,569 shares of the financial services provider’s stock worth $381,212,000 after purchasing an additional 709,315 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Price Performance

Shares of RJF opened at $159.76 on Friday. The company has a market cap of $31.85 billion, a P/E ratio of 15.66, a PEG ratio of 1.22 and a beta of 1.03. The stock has a fifty day moving average price of $167.65 and a 200 day moving average price of $154.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. Raymond James Financial has a 12 month low of $117.57 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its earnings results 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 company 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 18.38%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.39 earnings per share. On average, research analysts forecast that Raymond James Financial will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is presently 19.61%.

About Raymond James Financial

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.