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

Raymond James Financial, Inc. (NYSE:RJF) has received an average recommendation of “Hold” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $182.1667.

Several analysts have recently commented on the stock. UBS Group set a $176.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. TD Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Bank of America upped their price target on shares of Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, December 10th. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Finally, Barclays assumed coverage on Raymond James Financial in a research note on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective for the company.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its stake in shares of Raymond James Financial by 18.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,015 shares of the financial services provider’s stock worth $1,127,000 after purchasing an additional 1,107 shares during the period. World Investment Advisors lifted its stake in shares of Raymond James Financial by 0.5% in the 4th quarter. World Investment Advisors now owns 31,404 shares of the financial services provider’s stock valued at $5,043,000 after purchasing an additional 156 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Raymond James Financial by 3.8% in the 4th quarter. Corient Private Wealth LLC now owns 33,066 shares of the financial services provider’s stock valued at $5,310,000 after purchasing an additional 1,219 shares during the period. Reflection Asset Management purchased a new stake in Raymond James Financial during the fourth quarter worth $28,000. Finally, Kera Capital Partners Inc. purchased a new stake in Raymond James Financial during the fourth quarter worth $241,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Trading Down 1.5%

Shares of NYSE:RJF opened at $143.83 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. Raymond James Financial has a 52-week low of $117.57 and a 52-week high of $177.66. The stock has a market cap of $28.35 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.08 and a beta of 1.00. The business has a 50-day moving average price of $161.89 and a 200-day moving average price of $163.14.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the firm earned $2.93 earnings per share. Raymond James Financial’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict that Raymond James Financial will post 11.17 EPS for the current year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date is Wednesday, April 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 21.14%.

Raymond James Financial Company Profile

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.