Raymond James Financial, Inc. (NYSE:RJF) Receives Average Recommendation of “Hold” from Analysts

Raymond James Financial, Inc. (NYSE:RJF) has earned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $177.20.

Several analysts have recently issued reports on the company. JMP Securities increased their price objective on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Thursday, October 23rd. Finally, TD Cowen boosted their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd.

Institutional Trading of Raymond James Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of RJF. Norges Bank purchased a new position in shares of Raymond James Financial in the 2nd quarter valued at $354,446,000. JPMorgan Chase & Co. boosted its stake in Raymond James Financial by 41.6% in 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 in the last quarter. Nuveen LLC purchased a new position in shares of Raymond James Financial during the first quarter worth about $111,368,000. First Trust Advisors LP increased its position in shares of Raymond James Financial by 39.9% during the second 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. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Raymond James Financial by 44.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,708,333 shares of the financial services provider’s stock valued at $237,305,000 after purchasing an additional 525,134 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.5%

Shares of RJF opened at $156.54 on Friday. The company’s 50-day simple moving average is $162.59 and its 200-day simple moving average is $160.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. 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 $31.21 billion, a PE ratio of 15.21, a P/E/G ratio of 1.19 and a beta of 1.05.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.28. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. Analysts forecast that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

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.