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

Shares of Raymond James (NYSE:RJF) have received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $137.36.

A number of brokerages have weighed in on RJF. The Goldman Sachs Group increased their price target on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group decreased their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group boosted their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wells Fargo & Company raised their price objective on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, TD Cowen lifted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th.

Insider Transactions at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Hedge Funds Weigh In On Raymond James

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC increased its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the last quarter. Quarry LP purchased a new stake in shares of Raymond James during the 2nd quarter worth approximately $29,000. Smithfield Trust Co raised its holdings in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd lifted its stake in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in Raymond James during the third quarter valued at $32,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Performance

Shares of RJF stock opened at $144.91 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a one year low of $93.91 and a one year high of $148.68. The business’s 50 day simple moving average is $124.23 and its 200 day simple moving average is $121.37. The stock has a market capitalization of $30.04 billion, a PE ratio of 17.52, a PEG ratio of 0.95 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 EPS. As a group, research analysts forecast that Raymond James will post 9.55 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is presently 21.77%.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.