Raymond James Financial, Inc. (NYSE:RJF) Receives $172.20 Consensus PT from Brokerages

Raymond James Financial, Inc. (NYSE:RJF) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $172.20.

A number of research firms have recently weighed in on RJF. Wells Fargo & Company upped their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. JMP Securities lifted their target price on shares of Raymond James Financial from $180.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 9th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research report on Thursday. Finally, Morgan Stanley lifted their price target on 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.

Raymond James Financial Stock Down 0.3%

Shares of NYSE RJF opened at $159.76 on Friday. Raymond James Financial has a 1 year low of $117.57 and a 1 year high of $177.66. The stock has a market capitalization of $31.85 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The company has a 50-day moving average price of $167.65 and a 200-day moving average price of $154.70.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company earned $2.39 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Raymond James Financial by 1.6% in the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock worth $3,089,942,000 after buying an additional 347,916 shares in the last quarter. Primecap Management Co. CA lifted its position in Raymond James Financial by 3.0% during the second quarter. Primecap Management Co. CA now owns 10,013,852 shares of the financial services provider’s stock valued at $1,535,824,000 after purchasing an additional 295,163 shares during the period. JPMorgan Chase & Co. increased its position in Raymond James Financial by 41.6% during the second quarter. JPMorgan Chase & Co. now owns 5,616,998 shares of the financial services provider’s stock valued at $861,479,000 after acquiring an additional 1,651,380 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Raymond James Financial by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock valued at $574,590,000 after buying an additional 29,086 shares during the last quarter. Finally, Invesco Ltd. increased its position in Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after buying an additional 466,129 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.