Raymond James Financial, Inc. (NYSE:RJF) Stock Rated “Hold” by Sell-Side Analysts

by · The Markets Daily

Shares of Raymond James Financial, Inc. (NYSE:RJF – Get Free Report) have earned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $181.58.

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. Argus upped their price objective on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Barclays upped their price objective on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, 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.

Get Our Latest Stock Analysis on RJF

Raymond James Financial Price Performance

RJF opened at $158.17 on Friday. The stock has a 50-day moving average price of $173.04 and a 200-day moving average price of $160.14. 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 firm has a market cap of $30.43 billion, a PE ratio of 13.79, a P/E/G ratio of 0.98 and a beta of 0.91. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $182.73.

Raymond James Financial (NYSE:RJF – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. Raymond James Financial’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. Sell-side analysts predict that Raymond James Financial will post 12.08 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, October 1st. Raymond James Financial’s dividend payout ratio is presently 18.83%.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Bella Allaire sold 7,500 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 46,086 shares in the company, valued at approximately $8,184,873.60. This represents a 14.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,270 shares of company stock valued at $4,090,637 over the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. boosted its holdings in Raymond James Financial by 12.7% in the second quarter. QRG Capital Management Inc. now owns 39,488 shares of the financial services provider’s stock worth $6,003,000 after purchasing an additional 4,435 shares during the last quarter. State Street Corp grew its position in Raymond James Financial by 0.4% in the 2nd quarter. State Street Corp now owns 7,889,824 shares of the financial services provider’s stock worth $1,199,424,000 after purchasing an additional 35,294 shares during the period. Security National Bank of SO Dak purchased a new stake in Raymond James Financial during the 2nd quarter valued at $79,000. Sequoia Financial Advisors LLC raised its stake in Raymond James Financial by 19.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,707 shares of the financial services provider’s stock valued at $1,628,000 after buying an additional 1,706 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Raymond James Financial by 5.9% during the 2nd quarter. Tidal Investments LLC now owns 9,306 shares of the financial services provider’s stock valued at $1,410,000 after buying an additional 518 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Company Profile

(Get Free Report)

Raymond James Financial, Inc is a diversified financial services company headquartered in St. Petersburg, Florida. Through its subsidiaries and affiliated advisors, the company provides wealth management, investment banking, capital markets, asset management, and banking services to individuals, corporations, institutions, and municipalities.

Its wealth management operations serve clients through employee advisors and independent financial advisors, offering investment planning, brokerage, retirement planning, insurance, and related advisory services.

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