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

Raymond James Financial, Inc. (NYSE:RJF) has been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $173.25.

RJF has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday. Jefferies Financial Group cut their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. TD Cowen reiterated a “hold” rating and set a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Finally, Barclays reiterated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd.

Raymond James Financial Stock Performance

Shares of RJF opened at $151.48 on Friday. The business’s fifty day simple moving average is $149.56 and its two-hundred day simple moving average is $157.58. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Raymond James Financial has a 12 month low of $138.82 and a 12 month high of $177.66. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 0.99.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $2.42 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. Research analysts anticipate that Raymond James Financial will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be 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 is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 29,551 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Raymond James Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Reflection Asset Management purchased a new position in shares of Raymond James Financial in the 4th quarter worth $28,000. Anfield Capital Management LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial in the 4th quarter worth $32,000. Harbor Investment Advisory LLC boosted its stake in shares of 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 buying an additional 172 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of Raymond James Financial in the 4th quarter worth $35,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.