Raymond James Financial, Inc. (NYSE:RJF) Given Average Rating of “Hold” by Analysts

Raymond James Financial, Inc. (NYSE:RJF) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Nine research 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 analysts that have updated their coverage on the stock in the last year is $172.9167.

RJF has been the topic of a number of recent analyst reports. TD Cowen cut their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 28th. Morgan Stanley upped their target price on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. BMO Capital Markets upped their target price on shares of Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group cut their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RJF. Norges Bank acquired a new position in shares of Raymond James Financial in the 4th quarter worth approximately $324,263,000. First Trust Advisors LP lifted its holdings in shares of Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after purchasing an additional 474,477 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Raymond James Financial during the third quarter valued at $69,861,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at $64,640,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Raymond James Financial by 40.0% during the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock valued at $176,124,000 after purchasing an additional 313,587 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.3%

RJF stock opened at $158.77 on Thursday. The stock has a market capitalization of $30.94 billion, a P/E ratio of 15.01, a PEG ratio of 1.22 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial has a one year low of $138.82 and a one year high of $177.66. The company has a 50 day moving average price of $151.96 and a two-hundred day moving average price of $156.59.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm posted $2.42 EPS. The company’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Raymond James Financial will post 11.82 EPS for the current year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

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.