Raymond James (NYSE:RJF) Receives Average Rating of “Hold” from Brokerages

Raymond James (NYSE:RJF) has been given an average rating of “Hold” by the twelve brokerages that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $140.91.

Several brokerages have recently weighed in on RJF. JPMorgan Chase & Co. cut their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group raised their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. JMP Securities boosted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company increased their target price on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th.

Institutional Investors Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently modified their holdings of RJF. Wellington Management Group LLP grew its position in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares during the period. AGF Management Ltd. boosted its stake in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Raymond James during the 3rd quarter valued at $34,105,000. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Raymond James in the third quarter valued at $28,985,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Stock Performance

NYSE:RJF opened at $162.62 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a twelve month low of $102.42 and a twelve month high of $164.33. The company has a market capitalization of $33.49 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 0.80 and a beta of 0.99. The firm has a 50-day moving average price of $137.09 and a two-hundred day moving average price of $125.08.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 EPS. As a group, research analysts expect that Raymond James will post 10.83 earnings per share for the current fiscal year.

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.