Raymond James (NYSE:RJF) Given Consensus Rating of “Hold” by Analysts

Shares of Raymond James (NYSE:RJF) have earned a consensus rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $160.27.

A number of brokerages have commented on RJF. Wells Fargo & Company decreased their price objective on Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. JMP Securities decreased their price target on Raymond James from $190.00 to $175.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Citigroup dropped their price objective on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. The Goldman Sachs Group reduced their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, Morgan Stanley boosted their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th.

Raymond James Stock Performance

NYSE RJF opened at $133.48 on Friday. The company has a market cap of $27.35 billion, a P/E ratio of 13.02, a PEG ratio of 0.90 and a beta of 0.94. The company has a fifty day simple moving average of $142.94 and a 200 day simple moving average of $151.33. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Institutional Investors Weigh In On Raymond James

Hedge funds have recently modified their holdings of the stock. TCTC Holdings LLC increased its position in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James in the 1st quarter worth about $25,000. Y.D. More Investments Ltd increased its holdings in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its stake in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares during the period. Finally, Covestor Ltd lifted its holdings in Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

About Raymond James

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.