Raymond James Financial, Inc. (NYSE:RJF) Stock Has Average Target Price of $178.85

Shares of Raymond James Financial, Inc. (NYSE:RJF) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $178.85.

Several equities analysts have recently commented on the company. Wells Fargo & Company began coverage on Raymond James Financial in a research note on Friday, October 2nd. They set an “equal weight” rating and a $172.00 target price for the company. TD Cowen dropped their price target on shares of Raymond James Financial from $161.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, September 1st. Truist Financial cut their price target on shares of Raymond James Financial from $188.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, October 13th. Argus upped their price target on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the sale, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,270 shares of company stock worth $4,090,637. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Raymond James Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of Raymond James Financial in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $36,000. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 228 shares during the last quarter. Clearstead Trust LLC acquired a new stake in shares of Raymond James Financial during the 2nd quarter valued at approximately $40,000. Finally, Caitlin John LLC acquired a new stake in shares of Raymond James Financial during the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $155.28 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. Raymond James Financial has a fifty-two week low of $138.82 and a fifty-two week high of $182.73. The business has a 50 day moving average price of $167.92 and a two-hundred day moving average price of $161.51. The firm has a market cap of $29.87 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted $2.18 EPS. Raymond James Financial’s quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts expect that Raymond James Financial will post 12.08 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, October 1st. Raymond James Financial’s dividend payout ratio is 18.83%.

About Raymond James Financial

Raymond James Financial, Inc is a diversified financial services company serving individuals, corporations, municipalities and institutions. Through its subsidiaries and affiliated advisors, the company provides wealth management, investment advisory, financial planning, securities brokerage, banking and capital markets services.

The company’s Private Client Group offers investment management, retirement planning, estate planning and other financial planning services through a network of financial advisors.