Raymond James Financial, Inc. (NYSE:RJF) Receives $183.00 Consensus Price Target from Brokerages

Shares of Raymond James Financial, Inc. (NYSE:RJF) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $179.8333.

Several analysts have recently issued reports on the stock. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Jefferies Financial Group reduced their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Monday. Bank of America boosted their price objective 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 shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Thursday, December 11th.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

Hedge funds have recently bought and sold shares of the company. West Branch Capital LLC purchased a new position in Raymond James Financial in the 3rd quarter worth approximately $26,000. Reflection Asset Management purchased a new position in Raymond James Financial in the 4th quarter worth approximately $28,000. Salomon & Ludwin LLC purchased a new position in Raymond James Financial in the 3rd quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the 4th quarter worth approximately $32,000. Finally, Quent Capital LLC purchased a new position in Raymond James Financial in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

NYSE RJF opened at $141.58 on Friday. The company’s 50 day moving average is $154.01 and its 200-day moving average is $160.46. 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 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The firm has a market cap of $27.90 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00.

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

Raymond James Financial Announces Dividend

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

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.