Raymond James Financial’s (RJF) “Outperform” Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co restated their outperform rating on shares of Raymond James Financial (NYSE:RJF) in a research report sent to investors on Thursday. They currently have a $110.00 target price on the financial services provider’s stock, up from their prior target price of $94.00.

RJF has been the subject of several other reports. Buckingham Research upped their price objective on Raymond James Financial from $92.00 to $96.00 and gave the stock a buy rating in a research report on Friday, October 27th. Credit Suisse Group began coverage on Raymond James Financial in a research report on Thursday, November 30th. They set an underperform rating and a $82.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $85.00 price objective on shares of Raymond James Financial in a research report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $91.43.

Raymond James Financial (NYSE RJF) traded up $0.74 on Thursday, reaching $90.54. The company had a trading volume of 1,345,500 shares, compared to its average volume of 1,102,233. Raymond James Financial has a 1 year low of $70.74 and a 1 year high of $91.66. The firm has a market cap of $13,070.00, a PE ratio of 20.96, a price-to-earnings-growth ratio of 0.84 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.15. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. equities research analysts anticipate that Raymond James Financial will post 6.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be issued a $0.25 dividend. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, January 2nd. Raymond James Financial’s payout ratio is presently 23.15%.

In other Raymond James Financial news, SVP Jennifer C. Ackart sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $89.23, for a total transaction of $267,690.00. Following the completion of the sale, the senior vice president now directly owns 12,409 shares of the company’s stock, valued at approximately $1,107,255.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP George Catanese sold 506 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $88.29, for a total value of $44,674.74. Following the sale, the senior vice president now directly owns 5,884 shares of the company’s stock, valued at $519,498.36. The disclosure for this sale can be found here. Insiders sold a total of 318,204 shares of company stock valued at $27,453,239 over the last three months. Company insiders own 11.18% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. BT Investment Management Ltd purchased a new stake in Raymond James Financial during the 2nd quarter valued at approximately $98,773,000. Janus Henderson Group PLC raised its stake in Raymond James Financial by 188.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,206,006 shares of the financial services provider’s stock valued at $96,746,000 after acquiring an additional 787,396 shares during the last quarter. Wells Fargo & Company MN raised its stake in Raymond James Financial by 25.1% during the 2nd quarter. Wells Fargo & Company MN now owns 3,198,757 shares of the financial services provider’s stock valued at $256,605,000 after acquiring an additional 642,474 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Raymond James Financial by 489.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock valued at $38,146,000 after acquiring an additional 391,701 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Raymond James Financial by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,891,297 shares of the financial services provider’s stock valued at $1,034,139,000 after acquiring an additional 319,457 shares during the last quarter. 69.79% of the stock is owned by hedge funds and other institutional investors.

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Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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