Raymond James Financial, Inc. (NYSE:RJF) Stock Rated “Hold” by Wall Street Brokerages

Shares of Raymond James Financial, Inc. (NYSE:RJF) have been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $178.67.

A number of brokerages have recently weighed in on RJF. Barclays reissued an “overweight” rating and issued a $197.00 price objective (up from $196.00) on shares of Raymond James Financial in a report on Wednesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th. Citizens Jmp lifted their target price on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. Bank of America reaffirmed a “neutral” rating and set a $198.00 target price (up from $196.00) on shares of Raymond James Financial in a report on Monday, October 5th. Finally, BMO Capital Markets dropped their target price on Raymond James Financial from $175.00 to $170.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 6th.

Insider Activity at Raymond James Financial

In other news, insider Tashtego Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares of the company’s stock, valued at $7,942,770.84. This represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Allaire sold 7,500 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $177.60, for a total transaction of $1,332,000.00. Following the completion of the sale, the insider directly owned 46,086 shares in the company, valued at $8,184,873.60. This trade represents a 14.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RJF. BlackRock Inc. purchased a new stake in Raymond James Financial in the 2nd quarter worth approximately $2,180,699,000. Primecap Management Co. CA acquired a new stake in shares of Raymond James Financial during the 2nd quarter worth approximately $1,405,145,000. Bank of America Corp DE acquired a new stake in shares of Raymond James Financial during the 2nd quarter worth approximately $360,592,000. Bank of New York Mellon Corp purchased a new position in shares of Raymond James Financial during the 2nd quarter valued at approximately $182,254,000. Finally, Legal & General Group Plc purchased a new position in shares of Raymond James Financial during the 2nd quarter valued at approximately $181,811,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $157.75 on Wednesday. The firm has a market capitalization of $30.35 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The business has a fifty day moving average of $166.52 and a 200 day moving average of $161.83. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $182.73.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date was Thursday, October 1st. Raymond James Financial’s payout ratio is presently 18.83%.

Raymond James Financial Company Profile

Raymond James Financial, Inc is a diversified financial services company serving individuals, corporations, municipalities and institutions. Through its subsidiaries and affiliated advisors, the company provides wealth management, investment advisory, financial planning, securities brokerage, banking and capital markets services.

The company’s Private Client Group offers investment management, retirement planning, estate planning and other financial planning services through a network of financial advisors.