Raymond James Financial Inc. (RJF) Given “Hold” Rating at Nomura
Nomura reaffirmed their hold rating on shares of Raymond James Financial Inc. (NYSE:RJF) in a research note issued to investors on Friday morning. Nomura currently has a $62.00 price target on the stock.
Several other brokerages have also issued reports on RJF. Zacks Investment Research lowered shares of Raymond James Financial from a buy rating to a hold rating in a report on Wednesday, June 22nd. Credit Suisse Group AG set a $56.00 price target on shares of Raymond James Financial and gave the company a buy rating in a report on Wednesday, July 20th. Finally, Wells Fargo & Co. reaffirmed a hold rating on shares of Raymond James Financial in a report on Thursday, September 22nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $60.22.
Raymond James Financial (NYSE:RJF) traded up 0.53% during midday trading on Friday, reaching $58.52. 82,036 shares of the company’s stock traded hands. Raymond James Financial has a 1-year low of $39.84 and a 1-year high of $59.81. The stock’s 50 day moving average price is $57.16 and its 200 day moving average price is $52.78. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 17.47 and a beta of 1.55.
Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 20th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.90 by $0.03. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Raymond James Financial had a net margin of 9.02% and a return on equity of 10.20%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 EPS. Equities research analysts anticipate that Raymond James Financial will post $3.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. Raymond James Financial’s payout ratio is presently 23.88%.
In related news, insider Tashtego S. Elwyn sold 3,791 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $56.72, for a total transaction of $215,025.52. Following the transaction, the insider now owns 12,434 shares in the company, valued at approximately $705,256.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Dennis W. Zank sold 10,010 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $57.64, for a total transaction of $576,976.40. Following the transaction, the chief operating officer now owns 148,369 shares in the company, valued at approximately $8,551,989.16. The disclosure for this sale can be found here. Corporate insiders own 11.21% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Mizuho Asset Management Co. Ltd. increased its position in Raymond James Financial by 148.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,026 shares of the company’s stock worth $100,000 after buying an additional 1,209 shares during the last quarter. Advisor Group Inc. acquired a new position in Raymond James Financial during the second quarter valued at $158,000. Tower Research Capital LLC TRC increased its position in Raymond James Financial by 16.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,333 shares of the company’s stock valued at $165,000 after buying an additional 475 shares during the last quarter. Creative Planning increased its position in Raymond James Financial by 4.6% in the second quarter. Creative Planning now owns 3,378 shares of the company’s stock valued at $167,000 after buying an additional 149 shares during the last quarter. Finally, Strs Ohio increased its position in Raymond James Financial by 44.8% in the second quarter. Strs Ohio now owns 3,560 shares of the company’s stock valued at $175,000 after buying an additional 1,101 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.
Raymond James Financial Company Profile
Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.
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