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

Shares of Raymond James Financial, Inc. (NYSE:RJF) have been assigned a consensus rating of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $181.3636.

A number of brokerages have recently commented on RJF. TD Cowen increased their price target on shares of Raymond James Financial from $180.00 to $187.00 and gave the stock a “hold” rating in a report on Wednesday, January 14th. Bank of America upped their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. UBS Group set a $176.00 price target on Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th.

Raymond James Financial Stock Performance

NYSE:RJF opened at $172.11 on Monday. The stock has a market cap of $33.99 billion, a P/E ratio of 16.73, a PEG ratio of 1.10 and a beta of 0.99. The company has a quick ratio of 1.04, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $162.41 and its two-hundred day moving average price is $164.03. Raymond James Financial has a twelve month low of $117.57 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data 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 company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. Raymond James Financial’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.95 earnings per share. As a group, equities analysts predict that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Raymond James Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.54 per share. The ex-dividend date was Friday, January 2nd. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is 20.99%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the sale, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. The trade was a 33.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

A number of large investors have recently added to or reduced their stakes in RJF. West Branch Capital LLC purchased a new stake in Raymond James Financial during the third quarter valued at about $26,000. Salomon & Ludwin LLC bought a new stake in shares of Raymond James Financial in the 3rd quarter valued at about $31,000. Quent Capital LLC purchased a new stake in Raymond James Financial during the 3rd quarter valued at about $33,000. Anfield Capital Management LLC bought a new position in Raymond James Financial during the 3rd quarter worth approximately $33,000. Finally, Harbor Investment Advisory LLC increased its stake in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.