Brokerages Set Raymond James Financial, Inc. (NYSE:RJF) Target Price at $172.92

Shares of Raymond James Financial, Inc. (NYSE:RJF) have earned an average rating of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $172.9167.

RJF has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. UBS Group restated a “neutral” rating and issued a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Barclays restated an “overweight” rating and issued a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Finally, Morgan Stanley boosted their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th.

Raymond James Financial Stock Up 0.5%

Shares of NYSE:RJF opened at $156.66 on Thursday. The firm has a fifty day moving average price of $152.58 and a two-hundred day moving average price of $156.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. Raymond James Financial has a one year low of $138.82 and a one year high of $177.66. The company has a market cap of $30.53 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.20 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $2.42 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Analysts anticipate that Raymond James Financial will post 11.82 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.

Hedge Funds Weigh In On Raymond James Financial

A number of hedge funds have recently modified their holdings of the company. Kingsview Wealth Management LLC raised its position in Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares during the period. Algebris UK Ltd. acquired a new position in shares of Raymond James Financial in the fourth quarter worth $10,179,000. Fisher Asset Management LLC grew its stake in shares of Raymond James Financial by 6.9% in the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after acquiring an additional 25,410 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after acquiring an additional 7,202 shares in the last quarter. Finally, Swedbank AB grew its stake in shares of Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after acquiring an additional 9,838 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.