Raymond James Financial, Inc. (NYSE:RJF) Receives $182.17 Consensus PT from Analysts

Shares of Raymond James Financial, Inc. (NYSE:RJF) have been assigned an average rating of “Hold” from the thirteen analysts that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $182.1667.

Several equities analysts recently weighed in on RJF shares. Bank of America raised their target price on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Barclays began coverage on Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective on the stock. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Finally, Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd.

Insider Activity

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

Institutional Investors Weigh In On Raymond James Financial

Several institutional investors and hedge funds have recently bought and sold shares of RJF. Empowered Funds LLC raised its position in shares of Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after buying an additional 314 shares in the last quarter. Woodline Partners LP boosted its position in shares of Raymond James Financial by 41.8% during the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after acquiring an additional 4,592 shares in the last quarter. Assetmark Inc. increased its stake in Raymond James Financial by 63.5% in the second quarter. Assetmark Inc. now owns 806 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 313 shares during the last quarter. Savant Capital LLC increased its stake in Raymond James Financial by 237.9% in the second quarter. Savant Capital LLC now owns 20,371 shares of the financial services provider’s stock valued at $3,124,000 after acquiring an additional 14,343 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC acquired a new position in Raymond James Financial during the second quarter valued at approximately $212,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Down 2.5%

NYSE:RJF opened at $144.64 on Tuesday. The company has a market cap of $28.51 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The stock’s fifty day moving average price is $162.71 and its two-hundred day moving average price is $163.52. Raymond James Financial has a 52-week low of $117.57 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.93 earnings per share. On average, analysts anticipate that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. Raymond James Financial’s dividend payout ratio is currently 21.14%.

About Raymond James Financial

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.