Raymond James Financial, Inc. (NYSE:RJF) Receives $182.17 Consensus PT from Analysts

Raymond James Financial, Inc. (NYSE:RJF) has earned an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $182.1667.

RJF has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Thursday, January 22nd. TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods upped their target price on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Finally, Citizens Jmp boosted their target price on Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd.

Insider Buying and Selling at Raymond James Financial

In related news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total value of $21,321,584.05. Following the transaction, the insider directly owned 260,546 shares in the company, valued at approximately $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in RJF. Empowered Funds LLC raised its stake in Raymond James Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares in the last quarter. Woodline Partners LP increased its position in Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after acquiring an additional 4,592 shares during the period. Blair William & Co. IL bought a new position in Raymond James Financial during the 2nd quarter worth $272,000. Callan Family Office LLC acquired a new position in Raymond James Financial during the 2nd quarter worth about $401,000. Finally, CWM LLC boosted its holdings in Raymond James Financial by 1.6% in the second quarter. CWM LLC now owns 28,043 shares of the financial services provider’s stock valued at $4,301,000 after acquiring an additional 447 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

RJF opened at $157.98 on Friday. The stock has a market cap of $31.14 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.18 and a beta of 1.00. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $165.86 and a 200 day simple moving average of $164.76. Raymond James Financial has a 12 month low of $117.57 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the firm earned $2.93 EPS. Raymond James Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 2nd. Raymond James Financial’s dividend payout ratio is 21.14%.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.