Analysts Set Raymond James Financial, Inc. (NYSE:RJF) Price Target at $177.20

Shares of Raymond James Financial, Inc. (NYSE:RJF) have been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat Ratings 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 1-year target price among brokers that have issued ratings on the stock in the last year is $177.20.

A number of analysts have recently issued reports on RJF shares. JPMorgan Chase & Co. increased their price target on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. TD Cowen upped their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, BMO Capital Markets upped their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $162.92 on Wednesday. Raymond James Financial has a 12 month low of $117.57 and a 12 month high of $177.66. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The stock has a market cap of $32.48 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. The business has a fifty day simple moving average of $166.11 and a 200-day simple moving average of $158.34.

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

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is presently 19.44%.

Institutional Investors Weigh In On Raymond James Financial

Several large investors have recently made changes to their positions in the company. Norges Bank bought a new position in Raymond James Financial during the second quarter valued at approximately $354,446,000. Victory Capital Management Inc. increased its stake in shares of Raymond James Financial by 1,502.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock worth $261,587,000 after purchasing an additional 1,765,588 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 bought a new position in shares of Raymond James Financial during the 1st quarter valued at $111,368,000. Finally, First Trust Advisors LP lifted its stake 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 valued at $381,212,000 after purchasing an additional 709,315 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

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.