Barclays Issues Positive Forecast for Raymond James Financial (NYSE:RJF) Stock Price

Raymond James Financial (NYSE:RJF) had its target price upped by Barclays from $182.00 to $192.00 in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also weighed in on RJF. BMO Capital Markets lifted their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. UBS Group restated a “neutral” rating and issued a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday. Jefferies Financial Group reduced their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Finally, Morgan Stanley boosted their price target on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and an average target price of $175.33.

Raymond James Financial Stock Performance

NYSE:RJF opened at $168.52 on Thursday. The firm’s 50-day moving average is $154.15 and its 200-day moving average is $156.23. The company has a market cap of $32.84 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.28 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial has a 52-week low of $138.82 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $2.42 earnings per share. Equities research analysts anticipate that Raymond James Financial will post 11.76 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is presently 20.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingsview Wealth Management LLC boosted its position in shares of Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 17,407 shares during the last quarter. Algebris UK Ltd. bought a new position in Raymond James Financial during the fourth quarter worth about $10,179,000. Fisher Asset Management LLC boosted its holdings in Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after buying an additional 7,202 shares during the period. Finally, Swedbank AB grew its position in shares of Raymond James Financial by 31.1% during the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after buying an additional 9,838 shares during the period. 83.83% of the stock is owned by 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.