Raymond James Financial, Inc. (NYSE:RJF) Receives Consensus Rating of “Hold” from Analysts

Raymond James Financial, Inc. (NYSE:RJF) has earned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $181.00.

A number of brokerages recently issued reports on RJF. Barclays raised their price objective on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. TD Cowen lowered their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Argus raised their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Citizens Jmp lifted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, July 23rd.

Raymond James Financial Trading Down 0.6%

Shares of RJF opened at $178.33 on Tuesday. Raymond James Financial has a 12-month low of $138.82 and a 12-month high of $182.73. The firm has a market capitalization of $34.30 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.10 and a beta of 0.92. The firm has a 50-day moving average price of $170.68 and a 200 day moving average price of $158.13. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. 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 previous year, the business posted $2.18 EPS. Raymond James Financial’s revenue was up 15.6% on a year-over-year basis. Sell-side analysts forecast that Raymond James Financial will post 12.07 EPS for the current year.

Raymond James Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 1st. Raymond James Financial’s payout ratio is currently 18.83%.

Insiders Place Their Bets

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,270 shares of company stock worth $4,090,637 over the last three months. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Amundi raised its stake in shares of Raymond James Financial by 19.3% in the second quarter. Amundi now owns 478,939 shares of the financial services provider’s stock valued at $72,813,000 after acquiring an additional 77,638 shares in the last quarter. California State Teachers Retirement System raised its holdings in Raymond James Financial by 14,565.3% in the second quarter. California State Teachers Retirement System now owns 39,471,093 shares of the financial services provider’s stock valued at $6,000,790,000 after acquiring an additional 39,201,946 shares in the last quarter. Wedmont Private Capital grew its holdings in Raymond James Financial by 4.0% during the 2nd quarter. Wedmont Private Capital now owns 10,764 shares of the financial services provider’s stock worth $1,810,000 after acquiring an additional 410 shares in the last quarter. Nilsine Partners LLC increased its position in shares of Raymond James Financial by 2.1% in the 2nd quarter. Nilsine Partners LLC now owns 14,060 shares of the financial services provider’s stock valued at $2,138,000 after purchasing an additional 285 shares during the last quarter. Finally, Saudi Central Bank raised its holdings in shares of Raymond James Financial by 79.3% in the 2nd quarter. Saudi Central Bank now owns 12,417 shares of the financial services provider’s stock valued at $1,888,000 after purchasing an additional 5,493 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

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.